Hire Purchase (HP) representative example
Based on a cash price of €99,950 with a €34,983 deposit total, borrowing €64,968 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€1,331.34
- Final payment:
€1,406.34
- Cash price:
€99,950.00
- Customer deposit:
€34,982.50
- Total deposit:
€34,982.50
- Amount of credit:
€64,967.50
- Total amount payable:
€115,012.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
8.90%