Hire Purchase (HP) representative example
Based on a cash price of €115,950 with a €40,583 deposit total, borrowing €75,368 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,488.81
- Final payment:
€1,563.81
- Cash price:
€115,950.00
- Customer deposit:
€40,582.50
- Total deposit:
€40,582.50
- Amount of credit:
€75,367.50
- Total amount payable:
€130,061.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.20%