Hire Purchase (HP) representative example
Based on a cash price of €48,545 with a €16,991 deposit total, borrowing €31,554 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€627.05
- Final payment:
€702.05
- Cash price:
€48,545.00
- Customer deposit:
€16,990.75
- Total deposit:
€16,990.75
- Amount of credit:
€31,554.25
- Total amount payable:
€54,763.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%