Hire Purchase (HP) representative example
Based on a cash price of €22,950 with a €8,033 deposit total, borrowing €14,918 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€294.68
- Final payment:
€369.68
- Cash price:
€22,950.00
- Customer deposit:
€8,032.50
- Total deposit:
€8,032.50
- Amount of credit:
€14,917.50
- Total amount payable:
€25,863.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.50%