Hire Purchase (HP) representative example
Based on a cash price of €25,950 with a €9,083 deposit total, borrowing €16,868 at a representative APR of 9.10% and the following:
- 58 monthly payments of:
€345.66
- Final payment:
€420.66
- Cash price:
€25,950.00
- Customer deposit:
€9,082.50
- Total deposit:
€9,082.50
- Amount of credit:
€16,867.50
- Total amount payable:
€29,972.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
9.10%