Hire Purchase (HP) representative example
Based on a cash price of €39,450 with a €13,808 deposit total, borrowing €25,643 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€509.57
- Final payment:
€584.57
- Cash price:
€39,450.00
- Customer deposit:
€13,807.50
- Total deposit:
€13,807.50
- Amount of credit:
€25,642.50
- Total amount payable:
€44,531.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%