Hire Purchase (HP) representative example
Based on a cash price of €48,950 with a €17,133 deposit total, borrowing €31,818 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€648.19
- Final payment:
€723.19
- Cash price:
€48,950.00
- Customer deposit:
€17,132.50
- Total deposit:
€17,132.50
- Amount of credit:
€31,817.50
- Total amount payable:
€56,173.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.70%