Hire Purchase (HP) representative example
Based on a cash price of €42,950 with a €15,033 deposit total, borrowing €27,918 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€565.40
- Final payment:
€640.40
- Cash price:
€42,950.00
- Customer deposit:
€15,032.50
- Total deposit:
€15,032.50
- Amount of credit:
€27,917.50
- Total amount payable:
€49,106.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%