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Hire Purchase (HP) representative example
Based on a cash price of €41,750 with a €14,613 deposit total, borrowing €27,138 at a representative APR of 7.30% and the following:
- 58 monthly payments of: €536.08
- Final payment: €611.08
- Cash price: €41,750.00
- Customer deposit: €14,612.50
- Total deposit: €14,612.50
- Amount of credit: €27,137.50
- Total amount payable: €46,927.30
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 6.90%
- APR: 7.30%