Hire Purchase (HP) representative example
Based on a cash price of €29,650 with a €10,378 deposit total, borrowing €19,273 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€380.71
- Final payment:
€455.71
- Cash price:
€29,650.00
- Customer deposit:
€10,377.50
- Total deposit:
€10,377.50
- Amount of credit:
€19,272.50
- Total amount payable:
€33,370.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%