Hire Purchase (HP) representative example
Based on a cash price of €47,450 with a €16,608 deposit total, borrowing €30,843 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€609.26
- Final payment:
€684.26
- Cash price:
€47,450.00
- Customer deposit:
€16,607.50
- Total deposit:
€16,607.50
- Amount of credit:
€30,842.50
- Total amount payable:
€53,313.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.30%