Hire Purchase (HP) representative example
Based on a cash price of €70,950 with a €24,833 deposit total, borrowing €46,118 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€916.45
- Final payment:
€991.45
- Cash price:
€70,950.00
- Customer deposit:
€24,832.50
- Total deposit:
€24,832.50
- Amount of credit:
€46,117.50
- Total amount payable:
€79,969.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%