Hire Purchase (HP) representative example
Based on a cash price of €51,885 with a €18,160 deposit total, borrowing €33,725 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€670.19
- Final payment:
€745.19
- Cash price:
€51,885.00
- Customer deposit:
€18,159.75
- Total deposit:
€18,159.75
- Amount of credit:
€33,725.25
- Total amount payable:
€58,521.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%