Hire Purchase (HP) representative example
Based on a cash price of €73,950 with a €25,883 deposit total, borrowing €48,068 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€955.20
- Final payment:
€1,030.20
- Cash price:
€73,950.00
- Customer deposit:
€25,882.50
- Total deposit:
€25,882.50
- Amount of credit:
€48,067.50
- Total amount payable:
€83,344.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%