Hire Purchase (HP) representative example
Based on a cash price of €45,650 with a €15,978 deposit total, borrowing €29,673 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€586.15
- Final payment:
€661.15
- Cash price:
€45,650.00
- Customer deposit:
€15,977.50
- Total deposit:
€15,977.50
- Amount of credit:
€29,672.50
- Total amount payable:
€51,296.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.30%