Hire Purchase (HP) representative example
Based on a cash price of €64,950 with a €22,733 deposit total, borrowing €42,218 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€860.07
- Final payment:
€935.07
- Cash price:
€64,950.00
- Customer deposit:
€22,732.50
- Total deposit:
€22,732.50
- Amount of credit:
€42,217.50
- Total amount payable:
€74,486.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.70%