Hire Purchase (HP) representative example
Based on a cash price of €44,950 with a €15,733 deposit total, borrowing €29,218 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€595.23
- Final payment:
€670.23
- Cash price:
€44,950.00
- Customer deposit:
€15,732.50
- Total deposit:
€15,732.50
- Amount of credit:
€29,217.50
- Total amount payable:
€51,596.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.70%