Hire Purchase (HP) representative example
Based on a cash price of €50,195 with a €17,568 deposit total, borrowing €32,627 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€648.36
- Final payment:
€723.36
- Cash price:
€50,195.00
- Customer deposit:
€17,568.25
- Total deposit:
€17,568.25
- Amount of credit:
€32,626.75
- Total amount payable:
€56,619.85
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%