Hire Purchase (HP) representative example
Based on a cash price of €51,925 with a €18,174 deposit total, borrowing €33,751 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€695.72
- Final payment:
€770.72
- Cash price:
€51,925.00
- Customer deposit:
€18,173.75
- Total deposit:
€18,173.75
- Amount of credit:
€33,751.25
- Total amount payable:
€60,066.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.70%
- APR:
9.20%