Hire Purchase (HP) representative example
Based on a cash price of €44,700 with a €15,645 deposit total, borrowing €29,055 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€577.38
- Final payment:
€652.38
- Cash price:
€44,700.00
- Customer deposit:
€15,645.00
- Total deposit:
€15,645.00
- Amount of credit:
€29,055.00
- Total amount payable:
€50,437.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%