Hire Purchase (HP) representative example
Based on a cash price of €61,950 with a €21,683 deposit total, borrowing €40,268 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€795.45
- Final payment:
€870.45
- Cash price:
€61,950.00
- Customer deposit:
€21,682.50
- Total deposit:
€21,682.50
- Amount of credit:
€40,267.50
- Total amount payable:
€69,559.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.30%