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Hire Purchase (HP) representative example
Based on a cash price of €42,950 with a €15,033 deposit total, borrowing €27,918 at a representative APR of 7.30% and the following:
- 58 monthly payments of: €551.48
- Final payment: €626.48
- Cash price: €42,950.00
- Customer deposit: €15,032.50
- Total deposit: €15,032.50
- Amount of credit: €27,917.50
- Total amount payable: €48,271.30
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 6.90%
- APR: 7.30%