Hire Purchase (HP) representative example
Based on a cash price of €26,150 with a €9,153 deposit total, borrowing €16,998 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€337.78
- Final payment:
€412.78
- Cash price:
€26,150.00
- Customer deposit:
€9,152.50
- Total deposit:
€9,152.50
- Amount of credit:
€16,997.50
- Total amount payable:
€29,569.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%