Hire Purchase (HP) representative example
Based on a cash price of €53,195 with a €18,618 deposit total, borrowing €34,577 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€687.11
- Final payment:
€762.11
- Cash price:
€53,195.00
- Customer deposit:
€18,618.25
- Total deposit:
€18,618.25
- Amount of credit:
€34,576.75
- Total amount payable:
€59,994.85
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%