Hire Purchase (HP) representative example
Based on a cash price of €69,950 with a €24,483 deposit total, borrowing €45,468 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€903.53
- Final payment:
€978.53
- Cash price:
€69,950.00
- Customer deposit:
€24,482.50
- Total deposit:
€24,482.50
- Amount of credit:
€45,467.50
- Total amount payable:
€78,844.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%