Hire Purchase (HP) representative example
Based on a cash price of €40,950 with a €14,333 deposit total, borrowing €26,618 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€539.07
- Final payment:
€614.07
- Cash price:
€40,950.00
- Customer deposit:
€14,332.50
- Total deposit:
€14,332.50
- Amount of credit:
€26,617.50
- Total amount payable:
€46,826.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%