Hire Purchase (HP) representative example
Based on a cash price of €24,950 with a €8,733 deposit total, borrowing €16,218 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€328.44
- Final payment:
€403.44
- Cash price:
€24,950.00
- Customer deposit:
€8,732.50
- Total deposit:
€8,732.50
- Amount of credit:
€16,217.50
- Total amount payable:
€28,588.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.60%