Hire Purchase (HP) representative example
Based on a cash price of €22,750 with a €7,963 deposit total, borrowing €14,788 at a representative APR of 7.80% and the following:
- 58 monthly payments of:
€293.86
- Final payment:
€368.86
- Cash price:
€22,750.00
- Customer deposit:
€7,962.50
- Total deposit:
€7,962.50
- Amount of credit:
€14,787.50
- Total amount payable:
€25,744.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.80%