Hire Purchase (HP) representative example
Based on a cash price of €24,995 with a €8,748 deposit total, borrowing €16,247 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€329.04
- Final payment:
€404.04
- Cash price:
€24,995.00
- Customer deposit:
€8,748.25
- Total deposit:
€8,748.25
- Amount of credit:
€16,246.75
- Total amount payable:
€28,640.65
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.60%