Hire Purchase (HP) representative example
Based on a cash price of €27,950 with a €9,783 deposit total, borrowing €18,168 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€358.88
- Final payment:
€433.88
- Cash price:
€27,950.00
- Customer deposit:
€9,782.50
- Total deposit:
€9,782.50
- Amount of credit:
€18,167.50
- Total amount payable:
€31,465.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%