Hire Purchase (HP) representative example
Based on a cash price of €37,950 with a €13,283 deposit total, borrowing €24,668 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€502.53
- Final payment:
€577.53
- Cash price:
€37,950.00
- Customer deposit:
€13,282.50
- Total deposit:
€13,282.50
- Amount of credit:
€24,667.50
- Total amount payable:
€43,584.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.70%