Hire Purchase (HP) representative example
Based on a cash price of €22,950 with a €8,033 deposit total, borrowing €14,918 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€302.12
- Final payment:
€377.12
- Cash price:
€22,950.00
- Customer deposit:
€8,032.50
- Total deposit:
€8,032.50
- Amount of credit:
€14,917.50
- Total amount payable:
€26,309.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.60%