Hire Purchase (HP) representative example
Based on a cash price of €76,950 with a €26,933 deposit total, borrowing €50,018 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€1,024.98
- Final payment:
€1,099.98
- Cash price:
€76,950.00
- Customer deposit:
€26,932.50
- Total deposit:
€26,932.50
- Amount of credit:
€50,017.50
- Total amount payable:
€88,581.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
8.90%