Hire Purchase (HP) representative example
Based on a cash price of €51,200 with a €17,920 deposit total, borrowing €33,280 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€661.34
- Final payment:
€736.34
- Cash price:
€51,200.00
- Customer deposit:
€17,920.00
- Total deposit:
€17,920.00
- Amount of credit:
€33,280.00
- Total amount payable:
€57,750.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%