Hire Purchase (HP) representative example
Based on a cash price of €59,950 with a €20,983 deposit total, borrowing €38,968 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€769.77
- Final payment:
€844.77
- Cash price:
€59,950.00
- Customer deposit:
€20,982.50
- Total deposit:
€20,982.50
- Amount of credit:
€38,967.50
- Total amount payable:
€67,318.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.30%