Hire Purchase (HP) representative example
Based on a cash price of €42,965 with a €15,038 deposit total, borrowing €27,927 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€554.97
- Final payment:
€629.97
- Cash price:
€42,965.00
- Customer deposit:
€15,037.75
- Total deposit:
€15,037.75
- Amount of credit:
€27,927.25
- Total amount payable:
€48,485.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%