Hire Purchase (HP) representative example
Based on a cash price of €55,140 with a €19,299 deposit total, borrowing €35,841 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€712.23
- Final payment:
€787.23
- Cash price:
€55,140.00
- Customer deposit:
€19,299.00
- Total deposit:
€19,299.00
- Amount of credit:
€35,841.00
- Total amount payable:
€62,182.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%