Hire Purchase (HP) representative example
Based on a cash price of €24,700 with a €8,645 deposit total, borrowing €16,055 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€319.05
- Final payment:
€394.05
- Cash price:
€24,700.00
- Customer deposit:
€8,645.00
- Total deposit:
€8,645.00
- Amount of credit:
€16,055.00
- Total amount payable:
€27,938.00
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%