Hire Purchase (HP) representative example
Based on a cash price of €35,150 with a €12,303 deposit total, borrowing €22,848 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€454.03
- Final payment:
€529.03
- Cash price:
€35,150.00
- Customer deposit:
€12,302.50
- Total deposit:
€12,302.50
- Amount of credit:
€22,847.50
- Total amount payable:
€39,694.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%