Hire Purchase (HP) representative example
Based on a cash price of €63,900 with a €22,365 deposit total, borrowing €41,535 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€825.39
- Final payment:
€900.39
- Cash price:
€63,900.00
- Customer deposit:
€22,365.00
- Total deposit:
€22,365.00
- Amount of credit:
€41,535.00
- Total amount payable:
€72,038.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%