Hire Purchase (HP) representative example
Based on a cash price of €49,495 with a €17,323 deposit total, borrowing €32,172 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€639.32
- Final payment:
€714.32
- Cash price:
€49,495.00
- Customer deposit:
€17,323.25
- Total deposit:
€17,323.25
- Amount of credit:
€32,171.75
- Total amount payable:
€55,832.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%