Hire Purchase (HP) representative example
Based on a cash price of €36,100 with a €12,635 deposit total, borrowing €23,465 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€463.53
- Final payment:
€538.53
- Cash price:
€36,100.00
- Customer deposit:
€12,635.00
- Total deposit:
€12,635.00
- Amount of credit:
€23,465.00
- Total amount payable:
€40,596.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.40%