Hire Purchase (HP) representative example
Based on a cash price of €36,650 with a €12,828 deposit total, borrowing €23,823 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€473.40
- Final payment:
€548.40
- Cash price:
€36,650.00
- Customer deposit:
€12,827.50
- Total deposit:
€12,827.50
- Amount of credit:
€23,822.50
- Total amount payable:
€41,381.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%