Hire Purchase (HP) representative example
Based on a cash price of €31,950 with a €11,183 deposit total, borrowing €20,768 at a representative APR of 9.40% and the following:
- 58 monthly payments of:
€428.58
- Final payment:
€503.58
- Cash price:
€31,950.00
- Customer deposit:
€11,182.50
- Total deposit:
€11,182.50
- Amount of credit:
€20,767.50
- Total amount payable:
€37,047.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.75%
- APR:
9.40%