Hire Purchase (HP) representative example
Based on a cash price of €30,950 with a €10,833 deposit total, borrowing €20,118 at a representative APR of 9.40% and the following:
- 58 monthly payments of:
€415.17
- Final payment:
€490.17
- Cash price:
€30,950.00
- Customer deposit:
€10,832.50
- Total deposit:
€10,832.50
- Amount of credit:
€20,117.50
- Total amount payable:
€35,892.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.75%
- APR:
9.40%