Hire Purchase (HP) representative example
Based on a cash price of €68,950 with a €24,133 deposit total, borrowing €44,818 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€913.03
- Final payment:
€988.03
- Cash price:
€68,950.00
- Customer deposit:
€24,132.50
- Total deposit:
€24,132.50
- Amount of credit:
€44,817.50
- Total amount payable:
€79,064.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.60%