Hire Purchase (HP) representative example
Based on a cash price of €44,795 with a €15,678 deposit total, borrowing €29,117 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€578.61
- Final payment:
€653.61
- Cash price:
€44,795.00
- Customer deposit:
€15,678.25
- Total deposit:
€15,678.25
- Amount of credit:
€29,116.75
- Total amount payable:
€50,544.85
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%