Hire Purchase (HP) representative example
Based on a cash price of €44,100 with a €15,435 deposit total, borrowing €28,665 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€569.63
- Final payment:
€644.63
- Cash price:
€44,100.00
- Customer deposit:
€15,435.00
- Total deposit:
€15,435.00
- Amount of credit:
€28,665.00
- Total amount payable:
€49,762.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%