Hire Purchase (HP) representative example
Based on a cash price of €56,400 with a €19,740 deposit total, borrowing €36,660 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€728.51
- Final payment:
€803.51
- Cash price:
€56,400.00
- Customer deposit:
€19,740.00
- Total deposit:
€19,740.00
- Amount of credit:
€36,660.00
- Total amount payable:
€63,600.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%