Hire Purchase (HP) representative example
Based on a cash price of €52,445 with a €18,356 deposit total, borrowing €34,089 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€677.42
- Final payment:
€752.42
- Cash price:
€52,445.00
- Customer deposit:
€18,355.75
- Total deposit:
€18,355.75
- Amount of credit:
€34,089.25
- Total amount payable:
€59,150.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%