Hire Purchase (HP) representative example
Based on a cash price of €25,950 with a €9,083 deposit total, borrowing €16,868 at a representative APR of 9.40% and the following:
- 58 monthly payments of:
€348.10
- Final payment:
€423.10
- Cash price:
€25,950.00
- Customer deposit:
€9,082.50
- Total deposit:
€9,082.50
- Amount of credit:
€16,867.50
- Total amount payable:
€30,118.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.75%
- APR:
9.40%