Hire Purchase (HP) representative example
Based on a cash price of €41,350 with a €14,473 deposit total, borrowing €26,878 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€534.11
- Final payment:
€609.11
- Cash price:
€41,350.00
- Customer deposit:
€14,472.50
- Total deposit:
€14,472.50
- Amount of credit:
€26,877.50
- Total amount payable:
€46,669.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%