Hire Purchase (HP) representative example
Based on a cash price of €83,950 with a €29,383 deposit total, borrowing €54,568 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,077.93
- Final payment:
€1,152.93
- Cash price:
€83,950.00
- Customer deposit:
€29,382.50
- Total deposit:
€29,382.50
- Amount of credit:
€54,567.50
- Total amount payable:
€94,208.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.20%