Hire Purchase (HP) representative example
Based on a cash price of €14,850 with a €5,198 deposit total, borrowing €9,653 at a representative APR of 8.80% and the following:
- 58 monthly payments of:
€195.49
- Final payment:
€270.49
- Cash price:
€14,850.00
- Customer deposit:
€5,197.50
- Total deposit:
€5,197.50
- Amount of credit:
€9,652.50
- Total amount payable:
€17,076.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.80%