Hire Purchase (HP) representative example
Based on a cash price of €26,950 with a €9,433 deposit total, borrowing €17,518 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€348.11
- Final payment:
€423.11
- Cash price:
€26,950.00
- Customer deposit:
€9,432.50
- Total deposit:
€9,432.50
- Amount of credit:
€17,517.50
- Total amount payable:
€30,469.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%