Hire Purchase (HP) representative example
Based on a cash price of €25,995 with a €9,098 deposit total, borrowing €16,897 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€342.20
- Final payment:
€417.20
- Cash price:
€25,995.00
- Customer deposit:
€9,098.25
- Total deposit:
€9,098.25
- Amount of credit:
€16,896.75
- Total amount payable:
€29,780.25
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.60%