Hire Purchase (HP) representative example
Based on a cash price of €34,750 with a €12,163 deposit total, borrowing €22,588 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€446.19
- Final payment:
€521.19
- Cash price:
€34,750.00
- Customer deposit:
€12,162.50
- Total deposit:
€12,162.50
- Amount of credit:
€22,587.50
- Total amount payable:
€39,083.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%