Hire Purchase (HP) representative example
Based on a cash price of €36,950 with a €12,933 deposit total, borrowing €24,018 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€486.41
- Final payment:
€561.41
- Cash price:
€36,950.00
- Customer deposit:
€12,932.50
- Total deposit:
€12,932.50
- Amount of credit:
€24,017.50
- Total amount payable:
€42,267.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%