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Hire Purchase (HP) representative example
Based on a cash price of €37,950 with a €13,283 deposit total, borrowing €24,668 at a representative APR of 9.30% and the following:
- 58 monthly payments of: €508.47
- Final payment: €583.47
- Cash price: €37,950.00
- Customer deposit: €13,282.50
- Total deposit: €13,282.50
- Amount of credit: €24,667.50
- Total amount payable: €43,940.70
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 8.70%
- APR: 9.30%