Hire Purchase (HP) representative example
Based on a cash price of €79,750 with a €27,913 deposit total, borrowing €51,838 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,030.12
- Final payment:
€1,105.12
- Cash price:
€79,750.00
- Customer deposit:
€27,912.50
- Total deposit:
€27,912.50
- Amount of credit:
€51,837.50
- Total amount payable:
€89,869.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%