Hire Purchase (HP) representative example
Based on a cash price of €64,925 with a €22,724 deposit total, borrowing €42,201 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€869.90
- Final payment:
€944.90
- Cash price:
€64,925.00
- Customer deposit:
€22,723.75
- Total deposit:
€22,723.75
- Amount of credit:
€42,201.25
- Total amount payable:
€75,067.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.70%
- APR:
9.20%