Hire Purchase (HP) representative example
Based on a cash price of €37,900 with a €13,265 deposit total, borrowing €24,635 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€489.55
- Final payment:
€564.55
- Cash price:
€37,900.00
- Customer deposit:
€13,265.00
- Total deposit:
€13,265.00
- Amount of credit:
€24,635.00
- Total amount payable:
€42,788.00
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%