Hire Purchase (HP) representative example
Based on a cash price of €26,500 with a €9,275 deposit total, borrowing €17,225 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€342.30
- Final payment:
€417.30
- Cash price:
€26,500.00
- Customer deposit:
€9,275.00
- Total deposit:
€9,275.00
- Amount of credit:
€17,225.00
- Total amount payable:
€29,963.00
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%