Hire Purchase (HP) representative example
Based on a cash price of €25,750 with a €9,013 deposit total, borrowing €16,738 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€338.98
- Final payment:
€413.98
- Cash price:
€25,750.00
- Customer deposit:
€9,012.50
- Total deposit:
€9,012.50
- Amount of credit:
€16,737.50
- Total amount payable:
€29,501.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.60%