Hire Purchase (HP) representative example
Based on a cash price of €47,250 with a €16,538 deposit total, borrowing €30,713 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€610.32
- Final payment:
€685.32
- Cash price:
€47,250.00
- Customer deposit:
€16,537.50
- Total deposit:
€16,537.50
- Amount of credit:
€30,712.50
- Total amount payable:
€53,306.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%