Hire Purchase (HP) representative example
Based on a cash price of €17,995 with a €6,298 deposit total, borrowing €11,697 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€231.06
- Final payment:
€306.06
- Cash price:
€17,995.00
- Customer deposit:
€6,298.25
- Total deposit:
€6,298.25
- Amount of credit:
€11,696.75
- Total amount payable:
€20,311.85
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.60%