Hire Purchase (HP) representative example
Based on a cash price of €41,800 with a €14,630 deposit total, borrowing €27,170 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€539.92
- Final payment:
€614.92
- Cash price:
€41,800.00
- Customer deposit:
€14,630.00
- Total deposit:
€14,630.00
- Amount of credit:
€27,170.00
- Total amount payable:
€47,175.20
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%