Hire Purchase (HP) representative example
Based on a cash price of €69,000 with a €24,150 deposit total, borrowing €44,850 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€919.09
- Final payment:
€994.09
- Cash price:
€69,000.00
- Customer deposit:
€24,150.00
- Total deposit:
€24,150.00
- Amount of credit:
€44,850.00
- Total amount payable:
€79,445.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
8.90%