Hire Purchase (HP) representative example
Based on a cash price of €45,885 with a €16,060 deposit total, borrowing €29,825 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€592.69
- Final payment:
€667.69
- Cash price:
€45,885.00
- Customer deposit:
€16,059.75
- Total deposit:
€16,059.75
- Amount of credit:
€29,825.25
- Total amount payable:
€51,771.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%