Hire Purchase (HP) representative example
Based on a cash price of €46,950 with a €16,433 deposit total, borrowing €30,518 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€621.71
- Final payment:
€696.71
- Cash price:
€46,950.00
- Customer deposit:
€16,432.50
- Total deposit:
€16,432.50
- Amount of credit:
€30,517.50
- Total amount payable:
€53,885.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.70%