Hire Purchase (HP) representative example
Based on a cash price of €33,495 with a €11,723 deposit total, borrowing €21,772 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€430.08
- Final payment:
€505.08
- Cash price:
€33,495.00
- Customer deposit:
€11,723.25
- Total deposit:
€11,723.25
- Amount of credit:
€21,771.75
- Total amount payable:
€37,678.05
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%