Hire Purchase (HP) representative example
Based on a cash price of €52,240 with a €18,284 deposit total, borrowing €33,956 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€674.78
- Final payment:
€749.78
- Cash price:
€52,240.00
- Customer deposit:
€18,284.00
- Total deposit:
€18,284.00
- Amount of credit:
€33,956.00
- Total amount payable:
€58,920.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%