Hire Purchase (HP) representative example
Based on a cash price of €59,925 with a €20,974 deposit total, borrowing €38,951 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€774.04
- Final payment:
€849.04
- Cash price:
€59,925.00
- Customer deposit:
€20,973.75
- Total deposit:
€20,973.75
- Amount of credit:
€38,951.25
- Total amount payable:
€67,566.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%