Hire Purchase (HP) representative example
Based on a cash price of €34,200 with a €11,970 deposit total, borrowing €22,230 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€439.13
- Final payment:
€514.13
- Cash price:
€34,200.00
- Customer deposit:
€11,970.00
- Total deposit:
€11,970.00
- Amount of credit:
€22,230.00
- Total amount payable:
€38,467.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%