Hire Purchase (HP) representative example
Based on a cash price of €39,700 with a €13,895 deposit total, borrowing €25,805 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€512.80
- Final payment:
€587.80
- Cash price:
€39,700.00
- Customer deposit:
€13,895.00
- Total deposit:
€13,895.00
- Amount of credit:
€25,805.00
- Total amount payable:
€44,813.00
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%