Hire Purchase (HP) representative example
Based on a cash price of €56,950 with a €19,933 deposit total, borrowing €37,018 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€758.58
- Final payment:
€833.58
- Cash price:
€56,950.00
- Customer deposit:
€19,932.50
- Total deposit:
€19,932.50
- Amount of credit:
€37,017.50
- Total amount payable:
€65,597.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
8.90%