Hire Purchase (HP) representative example
Based on a cash price of €39,999 with a €14,000 deposit total, borrowing €25,999 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€526.55
- Final payment:
€601.55
- Cash price:
€39,999.00
- Customer deposit:
€13,999.65
- Total deposit:
€13,999.65
- Amount of credit:
€25,999.35
- Total amount payable:
€45,742.65
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%