Hire Purchase (HP) representative example
Based on a cash price of €45,995 with a €16,098 deposit total, borrowing €29,897 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€594.11
- Final payment:
€669.11
- Cash price:
€45,995.00
- Customer deposit:
€16,098.25
- Total deposit:
€16,098.25
- Amount of credit:
€29,896.75
- Total amount payable:
€51,894.85
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%