Hire Purchase (HP) representative example
Based on a cash price of €90,950 with a €31,833 deposit total, borrowing €59,118 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€1,211.46
- Final payment:
€1,286.46
- Cash price:
€90,950.00
- Customer deposit:
€31,832.50
- Total deposit:
€31,832.50
- Amount of credit:
€59,117.50
- Total amount payable:
€104,670.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
8.90%