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Hire Purchase (HP) representative example
Based on a cash price of €33,900 with a €11,865 deposit total, borrowing €22,035 at a representative APR of 7.60% and the following:
- 58 monthly payments of: €437.88
- Final payment: €512.88
- Cash price: €33,900.00
- Customer deposit: €11,865.00
- Total deposit: €11,865.00
- Amount of credit: €22,035.00
- Total amount payable: €38,287.80
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 7.15%
- APR: 7.60%