Hire Purchase (HP) representative example
Based on a cash price of €31,500 with a €11,025 deposit total, borrowing €20,475 at a representative APR of 8.80% and the following:
- 58 monthly payments of:
€417.12
- Final payment:
€492.12
- Cash price:
€31,500.00
- Customer deposit:
€11,025.00
- Total deposit:
€11,025.00
- Amount of credit:
€20,475.00
- Total amount payable:
€36,202.20
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.80%