Hire Purchase (HP) representative example
Based on a cash price of €43,400 with a €15,190 deposit total, borrowing €28,210 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€560.59
- Final payment:
€635.59
- Cash price:
€43,400.00
- Customer deposit:
€15,190.00
- Total deposit:
€15,190.00
- Amount of credit:
€28,210.00
- Total amount payable:
€48,975.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%