Hire Purchase (HP) representative example
Based on a cash price of €32,600 with a €11,410 deposit total, borrowing €21,190 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€418.59
- Final payment:
€493.59
- Cash price:
€32,600.00
- Customer deposit:
€11,410.00
- Total deposit:
€11,410.00
- Amount of credit:
€21,190.00
- Total amount payable:
€36,675.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%