Hire Purchase (HP) representative example
Based on a cash price of €33,950 with a €11,883 deposit total, borrowing €22,068 at a representative APR of 9.00% and the following:
- 58 monthly payments of:
€452.22
- Final payment:
€527.22
- Cash price:
€33,950.00
- Customer deposit:
€11,882.50
- Total deposit:
€11,882.50
- Amount of credit:
€22,067.50
- Total amount payable:
€39,165.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
9.00%