Hire Purchase (HP) representative example
Based on a cash price of €399,950 with a €139,983 deposit total, borrowing €259,968 at a representative APR of 9.10% and the following:
- 58 monthly payments of:
€5,365.01
- Final payment:
€5,440.01
- Cash price:
€399,950.00
- Customer deposit:
€139,982.50
- Total deposit:
€139,982.50
- Amount of credit:
€259,967.50
- Total amount payable:
€462,033.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.75%
- APR:
9.10%