Hire Purchase (HP) representative example
Based on a cash price of €38,050 with a €13,318 deposit total, borrowing €24,733 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€491.49
- Final payment:
€566.49
- Cash price:
€38,050.00
- Customer deposit:
€13,317.50
- Total deposit:
€13,317.50
- Amount of credit:
€24,732.50
- Total amount payable:
€42,956.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%