Hire Purchase (HP) representative example
Based on a cash price of €33,750 with a €11,813 deposit total, borrowing €21,938 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€435.94
- Final payment:
€510.94
- Cash price:
€33,750.00
- Customer deposit:
€11,812.50
- Total deposit:
€11,812.50
- Amount of credit:
€21,937.50
- Total amount payable:
€38,118.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%