Hire Purchase (HP) representative example
Based on a cash price of €26,750 with a €9,363 deposit total, borrowing €17,388 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€345.53
- Final payment:
€420.53
- Cash price:
€26,750.00
- Customer deposit:
€9,362.50
- Total deposit:
€9,362.50
- Amount of credit:
€17,387.50
- Total amount payable:
€30,244.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%