Hire Purchase (HP) representative example
Based on a cash price of €35,950 with a €12,583 deposit total, borrowing €23,368 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€464.36
- Final payment:
€539.36
- Cash price:
€35,950.00
- Customer deposit:
€12,582.50
- Total deposit:
€12,582.50
- Amount of credit:
€23,367.50
- Total amount payable:
€40,594.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%