Hire Purchase (HP) representative example
Based on a cash price of €16,950 with a €5,933 deposit total, borrowing €11,018 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€225.78
- Final payment:
€300.78
- Cash price:
€16,950.00
- Customer deposit:
€5,932.50
- Total deposit:
€5,932.50
- Amount of credit:
€11,017.50
- Total amount payable:
€19,629.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
9.30%