Hire Purchase (HP) representative example
Based on a cash price of €92,950 with a €32,533 deposit total, borrowing €60,418 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€1,230.84
- Final payment:
€1,305.84
- Cash price:
€92,950.00
- Customer deposit:
€32,532.50
- Total deposit:
€32,532.50
- Amount of credit:
€60,417.50
- Total amount payable:
€106,532.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.60%