Hire Purchase (HP) representative example
Based on a cash price of €72,950 with a €25,533 deposit total, borrowing €47,418 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€960.32
- Final payment:
€1,035.32
- Cash price:
€72,950.00
- Customer deposit:
€25,532.50
- Total deposit:
€25,532.50
- Amount of credit:
€47,417.50
- Total amount payable:
€83,301.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.40%