Hire Purchase (HP) representative example
Based on a cash price of €82,950 with a €29,033 deposit total, borrowing €53,918 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,071.45
- Final payment:
€1,146.45
- Cash price:
€82,950.00
- Customer deposit:
€29,032.50
- Total deposit:
€29,032.50
- Amount of credit:
€53,917.50
- Total amount payable:
€93,469.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%