Hire Purchase (HP) representative example
Based on a cash price of €46,385 with a €16,235 deposit total, borrowing €30,150 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€599.15
- Final payment:
€674.15
- Cash price:
€46,385.00
- Customer deposit:
€16,234.75
- Total deposit:
€16,234.75
- Amount of credit:
€30,150.25
- Total amount payable:
€52,333.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%