Hire Purchase (HP) representative example
Based on a cash price of €38,950 with a €13,633 deposit total, borrowing €25,318 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€515.77
- Final payment:
€590.77
- Cash price:
€38,950.00
- Customer deposit:
€13,632.50
- Total deposit:
€13,632.50
- Amount of credit:
€25,317.50
- Total amount payable:
€44,728.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.70%