Hire Purchase (HP) representative example
Based on a cash price of €49,400 with a €17,290 deposit total, borrowing €32,110 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€638.09
- Final payment:
€713.09
- Cash price:
€49,400.00
- Customer deposit:
€17,290.00
- Total deposit:
€17,290.00
- Amount of credit:
€32,110.00
- Total amount payable:
€55,725.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%