Hire Purchase (HP) representative example
Based on a cash price of €41,600 with a €14,560 deposit total, borrowing €27,040 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€537.34
- Final payment:
€612.34
- Cash price:
€41,600.00
- Customer deposit:
€14,560.00
- Total deposit:
€14,560.00
- Amount of credit:
€27,040.00
- Total amount payable:
€46,950.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.60%