Hire Purchase (HP) representative example
Based on a cash price of €26,900 with a €9,415 deposit total, borrowing €17,485 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€345.40
- Final payment:
€420.40
- Cash price:
€26,900.00
- Customer deposit:
€9,415.00
- Total deposit:
€9,415.00
- Amount of credit:
€17,485.00
- Total amount payable:
€30,289.00
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%