Hire Purchase (HP) representative example
Based on a cash price of €74,950 with a €26,233 deposit total, borrowing €48,718 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€962.37
- Final payment:
€1,037.37
- Cash price:
€74,950.00
- Customer deposit:
€26,232.50
- Total deposit:
€26,232.50
- Amount of credit:
€48,717.50
- Total amount payable:
€84,124.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.20%