Hire Purchase (HP) representative example
Based on a cash price of €39,950 with a €13,983 deposit total, borrowing €25,968 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€516.03
- Final payment:
€591.03
- Cash price:
€39,950.00
- Customer deposit:
€13,982.50
- Total deposit:
€13,982.50
- Amount of credit:
€25,967.50
- Total amount payable:
€45,094.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%