Hire Purchase (HP) representative example
Based on a cash price of €81,750 with a €28,613 deposit total, borrowing €53,138 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,055.95
- Final payment:
€1,130.95
- Cash price:
€81,750.00
- Customer deposit:
€28,612.50
- Total deposit:
€28,612.50
- Amount of credit:
€53,137.50
- Total amount payable:
€92,119.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%