Hire Purchase (HP) representative example
Based on a cash price of €41,950 with a €14,683 deposit total, borrowing €27,268 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€552.23
- Final payment:
€627.23
- Cash price:
€41,950.00
- Customer deposit:
€14,682.50
- Total deposit:
€14,682.50
- Amount of credit:
€27,267.50
- Total amount payable:
€47,966.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%