Hire Purchase (HP) representative example
Based on a cash price of €19,995 with a €6,998 deposit total, borrowing €12,997 at a representative APR of 7.80% and the following:
- 58 monthly payments of:
€258.27
- Final payment:
€333.27
- Cash price:
€19,995.00
- Customer deposit:
€6,998.25
- Total deposit:
€6,998.25
- Amount of credit:
€12,996.75
- Total amount payable:
€22,644.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.80%