Hire Purchase (HP) representative example
Based on a cash price of €47,695 with a €16,693 deposit total, borrowing €31,002 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€616.07
- Final payment:
€691.07
- Cash price:
€47,695.00
- Customer deposit:
€16,693.25
- Total deposit:
€16,693.25
- Amount of credit:
€31,001.75
- Total amount payable:
€53,807.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%