Hire Purchase (HP) representative example
Based on a cash price of €42,765 with a €14,968 deposit total, borrowing €27,797 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€552.39
- Final payment:
€627.39
- Cash price:
€42,765.00
- Customer deposit:
€14,967.75
- Total deposit:
€14,967.75
- Amount of credit:
€27,797.25
- Total amount payable:
€48,261.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%