Hire Purchase (HP) representative example
Based on a cash price of €23,750 with a €8,313 deposit total, borrowing €15,438 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€304.95
- Final payment:
€379.95
- Cash price:
€23,750.00
- Customer deposit:
€8,312.50
- Total deposit:
€8,312.50
- Amount of credit:
€15,437.50
- Total amount payable:
€26,759.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.50%