Hire Purchase (HP) representative example
Based on a cash price of €51,950 with a €18,183 deposit total, borrowing €33,768 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€671.03
- Final payment:
€746.03
- Cash price:
€51,950.00
- Customer deposit:
€18,182.50
- Total deposit:
€18,182.50
- Amount of credit:
€33,767.50
- Total amount payable:
€58,594.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%