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Hire Purchase (HP) representative example
Based on a cash price of €36,600 with a €12,810 deposit total, borrowing €23,790 at a representative APR of 7.60% and the following:
- 58 monthly payments of: €472.76
- Final payment: €547.76
- Cash price: €36,600.00
- Customer deposit: €12,810.00
- Total deposit: €12,810.00
- Amount of credit: €23,790.00
- Total amount payable: €41,325.60
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 7.15%
- APR: 7.60%