Hire Purchase (HP) representative example
Based on a cash price of €30,400 with a €10,640 deposit total, borrowing €19,760 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€392.67
- Final payment:
€467.67
- Cash price:
€30,400.00
- Customer deposit:
€10,640.00
- Total deposit:
€10,640.00
- Amount of credit:
€19,760.00
- Total amount payable:
€34,350.20
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%