Hire Purchase (HP) representative example
Based on a cash price of €23,600 with a €8,260 deposit total, borrowing €15,340 at a representative APR of 7.80% and the following:
- 58 monthly payments of:
€304.84
- Final payment:
€379.84
- Cash price:
€23,600.00
- Customer deposit:
€8,260.00
- Total deposit:
€8,260.00
- Amount of credit:
€15,340.00
- Total amount payable:
€26,700.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.80%