Hire Purchase (HP) representative example
Based on a cash price of €46,800 with a €16,380 deposit total, borrowing €30,420 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€604.51
- Final payment:
€679.51
- Cash price:
€46,800.00
- Customer deposit:
€16,380.00
- Total deposit:
€16,380.00
- Amount of credit:
€30,420.00
- Total amount payable:
€52,800.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%