Hire Purchase (HP) representative example
Based on a cash price of €35,300 with a €12,355 deposit total, borrowing €22,945 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€455.96
- Final payment:
€530.96
- Cash price:
€35,300.00
- Customer deposit:
€12,355.00
- Total deposit:
€12,355.00
- Amount of credit:
€22,945.00
- Total amount payable:
€39,862.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%