Hire Purchase (HP) representative example
Based on a cash price of €43,850 with a €15,348 deposit total, borrowing €28,503 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€566.40
- Final payment:
€641.40
- Cash price:
€43,850.00
- Customer deposit:
€15,347.50
- Total deposit:
€15,347.50
- Amount of credit:
€28,502.50
- Total amount payable:
€49,481.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%