Hire Purchase (HP) representative example
Based on a cash price of €42,450 with a €14,858 deposit total, borrowing €27,593 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€558.82
- Final payment:
€633.82
- Cash price:
€42,450.00
- Customer deposit:
€14,857.50
- Total deposit:
€14,857.50
- Amount of credit:
€27,592.50
- Total amount payable:
€48,536.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%