Hire Purchase (HP) representative example
Based on a cash price of €75,950 with a €26,583 deposit total, borrowing €49,368 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€981.03
- Final payment:
€1,056.03
- Cash price:
€75,950.00
- Customer deposit:
€26,582.50
- Total deposit:
€26,582.50
- Amount of credit:
€49,367.50
- Total amount payable:
€85,594.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%