Hire Purchase (HP) representative example
Based on a cash price of €35,600 with a €12,460 deposit total, borrowing €23,140 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€457.11
- Final payment:
€532.11
- Cash price:
€35,600.00
- Customer deposit:
€12,460.00
- Total deposit:
€12,460.00
- Amount of credit:
€23,140.00
- Total amount payable:
€40,036.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%