Hire Purchase (HP) representative example
Based on a cash price of €38,945 with a €13,631 deposit total, borrowing €25,314 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€503.05
- Final payment:
€578.05
- Cash price:
€38,945.00
- Customer deposit:
€13,630.75
- Total deposit:
€13,630.75
- Amount of credit:
€25,314.25
- Total amount payable:
€43,963.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%