Hire Purchase (HP) representative example
Based on a cash price of €35,950 with a €12,583 deposit total, borrowing €23,368 at a representative APR of 8.80% and the following:
- 58 monthly payments of:
€476.05
- Final payment:
€551.05
- Cash price:
€35,950.00
- Customer deposit:
€12,582.50
- Total deposit:
€12,582.50
- Amount of credit:
€23,367.50
- Total amount payable:
€41,295.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.80%