Hire Purchase (HP) representative example
Based on a cash price of €47,300 with a €16,555 deposit total, borrowing €30,745 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€610.97
- Final payment:
€685.97
- Cash price:
€47,300.00
- Customer deposit:
€16,555.00
- Total deposit:
€16,555.00
- Amount of credit:
€30,745.00
- Total amount payable:
€53,363.20
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%