Hire Purchase (HP) representative example
Based on a cash price of €31,334 with a €10,967 deposit total, borrowing €20,367 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€404.74
- Final payment:
€479.74
- Cash price:
€31,334.00
- Customer deposit:
€10,966.90
- Total deposit:
€10,966.90
- Amount of credit:
€20,367.10
- Total amount payable:
€35,401.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.70%