Hire Purchase (HP) representative example
Based on a cash price of €27,650 with a €9,678 deposit total, borrowing €17,973 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€357.15
- Final payment:
€432.15
- Cash price:
€27,650.00
- Customer deposit:
€9,677.50
- Total deposit:
€9,677.50
- Amount of credit:
€17,972.50
- Total amount payable:
€31,256.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%