Hire Purchase (HP) representative example
Based on a cash price of €20,800 with a €7,280 deposit total, borrowing €13,520 at a representative APR of 7.80% and the following:
- 58 monthly payments of:
€268.67
- Final payment:
€343.67
- Cash price:
€20,800.00
- Customer deposit:
€7,280.00
- Total deposit:
€7,280.00
- Amount of credit:
€13,520.00
- Total amount payable:
€23,550.20
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.80%