Hire Purchase (HP) representative example
Based on a cash price of €86,950 with a €30,433 deposit total, borrowing €56,518 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,123.12
- Final payment:
€1,198.12
- Cash price:
€86,950.00
- Customer deposit:
€30,432.50
- Total deposit:
€30,432.50
- Amount of credit:
€56,517.50
- Total amount payable:
€97,969.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%