Hire Purchase (HP) representative example
Based on a cash price of €59,950 with a €20,983 deposit total, borrowing €38,968 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€789.19
- Final payment:
€864.19
- Cash price:
€59,950.00
- Customer deposit:
€20,982.50
- Total deposit:
€20,982.50
- Amount of credit:
€38,967.50
- Total amount payable:
€68,483.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.40%