Hire Purchase (HP) representative example
Based on a cash price of €20,900 with a €7,315 deposit total, borrowing €13,585 at a representative APR of 7.80% and the following:
- 58 monthly payments of:
€269.96
- Final payment:
€344.96
- Cash price:
€20,900.00
- Customer deposit:
€7,315.00
- Total deposit:
€7,315.00
- Amount of credit:
€13,585.00
- Total amount payable:
€23,662.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.80%