Hire Purchase (HP) representative example
Based on a cash price of €21,995 with a €7,698 deposit total, borrowing €14,297 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€289.54
- Final payment:
€364.54
- Cash price:
€21,995.00
- Customer deposit:
€7,698.25
- Total deposit:
€7,698.25
- Amount of credit:
€14,296.75
- Total amount payable:
€25,220.65
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.60%