Hire Purchase (HP) representative example
Based on a cash price of €21,500 with a €7,525 deposit total, borrowing €13,975 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€283.03
- Final payment:
€358.03
- Cash price:
€21,500.00
- Customer deposit:
€7,525.00
- Total deposit:
€7,525.00
- Amount of credit:
€13,975.00
- Total amount payable:
€24,656.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.70%