Hire Purchase (HP) representative example
Based on a cash price of €28,400 with a €9,940 deposit total, borrowing €18,460 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€366.84
- Final payment:
€441.84
- Cash price:
€28,400.00
- Customer deposit:
€9,940.00
- Total deposit:
€9,940.00
- Amount of credit:
€18,460.00
- Total amount payable:
€32,100.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%