Hire Purchase (HP) representative example
Based on a cash price of €34,950 with a €12,233 deposit total, borrowing €22,718 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€448.76
- Final payment:
€523.76
- Cash price:
€34,950.00
- Customer deposit:
€12,232.50
- Total deposit:
€12,232.50
- Amount of credit:
€22,717.50
- Total amount payable:
€39,308.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%