Hire Purchase (HP) representative example
Based on a cash price of €37,100 with a €12,985 deposit total, borrowing €24,115 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€476.37
- Final payment:
€551.37
- Cash price:
€37,100.00
- Customer deposit:
€12,985.00
- Total deposit:
€12,985.00
- Amount of credit:
€24,115.00
- Total amount payable:
€41,717.20
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%