Hire Purchase (HP) representative example
Based on a cash price of €32,950 with a €11,533 deposit total, borrowing €21,418 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€433.76
- Final payment:
€508.76
- Cash price:
€32,950.00
- Customer deposit:
€11,532.50
- Total deposit:
€11,532.50
- Amount of credit:
€21,417.50
- Total amount payable:
€37,708.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%