Hire Purchase (HP) representative example
Based on a cash price of €69,995 with a €24,498 deposit total, borrowing €45,497 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€904.11
- Final payment:
€979.11
- Cash price:
€69,995.00
- Customer deposit:
€24,498.25
- Total deposit:
€24,498.25
- Amount of credit:
€45,496.75
- Total amount payable:
€78,894.85
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%