Hire Purchase (HP) representative example
Based on a cash price of €35,750 with a €12,513 deposit total, borrowing €23,238 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€479.00
- Final payment:
€554.00
- Cash price:
€35,750.00
- Customer deposit:
€12,512.50
- Total deposit:
€12,512.50
- Amount of credit:
€23,237.50
- Total amount payable:
€41,402.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.70%
- APR:
9.30%