Hire Purchase (HP) representative example
Based on a cash price of €49,950 with a €17,483 deposit total, borrowing €32,468 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€645.20
- Final payment:
€720.20
- Cash price:
€49,950.00
- Customer deposit:
€17,482.50
- Total deposit:
€17,482.50
- Amount of credit:
€32,467.50
- Total amount payable:
€56,344.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%