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Hire Purchase (HP) representative example
Based on a cash price of €66,950 with a €23,433 deposit total, borrowing €43,518 at a representative APR of 7.30% and the following:
- 58 monthly payments of: €859.65
- Final payment: €934.65
- Cash price: €66,950.00
- Customer deposit: €23,432.50
- Total deposit: €23,432.50
- Amount of credit: €43,517.50
- Total amount payable: €75,161.50
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 6.90%
- APR: 7.30%