Hire Purchase (HP) representative example
Based on a cash price of €33,900 with a €11,865 deposit total, borrowing €22,035 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€435.28
- Final payment:
€510.28
- Cash price:
€33,900.00
- Customer deposit:
€11,865.00
- Total deposit:
€11,865.00
- Amount of credit:
€22,035.00
- Total amount payable:
€38,131.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%