Hire Purchase (HP) representative example
Based on a cash price of €31,995 with a €11,198 deposit total, borrowing €20,797 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€413.27
- Final payment:
€488.27
- Cash price:
€31,995.00
- Customer deposit:
€11,198.25
- Total deposit:
€11,198.25
- Amount of credit:
€20,796.75
- Total amount payable:
€36,144.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%