Hire Purchase (HP) representative example
Based on a cash price of €47,950 with a €16,783 deposit total, borrowing €31,168 at a representative APR of 9.00% and the following:
- 58 monthly payments of:
€638.70
- Final payment:
€713.70
- Cash price:
€47,950.00
- Customer deposit:
€16,782.50
- Total deposit:
€16,782.50
- Amount of credit:
€31,167.50
- Total amount payable:
€55,254.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
9.00%