Hire Purchase (HP) representative example
Based on a cash price of €56,450 with a €19,758 deposit total, borrowing €36,693 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€747.51
- Final payment:
€822.51
- Cash price:
€56,450.00
- Customer deposit:
€19,757.50
- Total deposit:
€19,757.50
- Amount of credit:
€36,692.50
- Total amount payable:
€64,758.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.70%