Hire Purchase (HP) representative example
Based on a cash price of €29,940 with a €10,479 deposit total, borrowing €19,461 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€394.13
- Final payment:
€469.13
- Cash price:
€29,940.00
- Customer deposit:
€10,479.00
- Total deposit:
€10,479.00
- Amount of credit:
€19,461.00
- Total amount payable:
€34,276.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%