Hire Purchase (HP) representative example
Based on a cash price of €51,800 with a €18,130 deposit total, borrowing €33,670 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€669.09
- Final payment:
€744.09
- Cash price:
€51,800.00
- Customer deposit:
€18,130.00
- Total deposit:
€18,130.00
- Amount of credit:
€33,670.00
- Total amount payable:
€58,425.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%