Hire Purchase (HP) representative example
Based on a cash price of €39,250 with a €13,738 deposit total, borrowing €25,513 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€506.99
- Final payment:
€581.99
- Cash price:
€39,250.00
- Customer deposit:
€13,737.50
- Total deposit:
€13,737.50
- Amount of credit:
€25,512.50
- Total amount payable:
€44,306.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%