Hire Purchase (HP) representative example
Based on a cash price of €33,450 with a €11,708 deposit total, borrowing €21,743 at a representative APR of 9.00% and the following:
- 58 monthly payments of:
€445.56
- Final payment:
€520.56
- Cash price:
€33,450.00
- Customer deposit:
€11,707.50
- Total deposit:
€11,707.50
- Amount of credit:
€21,742.50
- Total amount payable:
€38,591.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
9.00%