Hire Purchase (HP) representative example
Based on a cash price of €26,450 with a €9,258 deposit total, borrowing €17,193 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€339.62
- Final payment:
€414.62
- Cash price:
€26,450.00
- Customer deposit:
€9,257.50
- Total deposit:
€9,257.50
- Amount of credit:
€17,192.50
- Total amount payable:
€29,784.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.50%