Hire Purchase (HP) representative example
Based on a cash price of €23,500 with a €8,225 deposit total, borrowing €15,275 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€309.36
- Final payment:
€384.36
- Cash price:
€23,500.00
- Customer deposit:
€8,225.00
- Total deposit:
€8,225.00
- Amount of credit:
€15,275.00
- Total amount payable:
€26,936.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.60%