Hire Purchase (HP) representative example
Based on a cash price of €71,045 with a €24,866 deposit total, borrowing €46,179 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€917.68
- Final payment:
€992.68
- Cash price:
€71,045.00
- Customer deposit:
€24,865.75
- Total deposit:
€24,865.75
- Amount of credit:
€46,179.25
- Total amount payable:
€80,076.55
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%