Hire Purchase (HP) representative example
Based on a cash price of €24,450 with a €8,558 deposit total, borrowing €15,893 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€313.94
- Final payment:
€388.94
- Cash price:
€24,450.00
- Customer deposit:
€8,557.50
- Total deposit:
€8,557.50
- Amount of credit:
€15,892.50
- Total amount payable:
€27,543.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.50%