Hire Purchase (HP) representative example
Based on a cash price of €49,925 with a €17,474 deposit total, borrowing €32,451 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€668.92
- Final payment:
€743.92
- Cash price:
€49,925.00
- Customer deposit:
€17,473.75
- Total deposit:
€17,473.75
- Amount of credit:
€32,451.25
- Total amount payable:
€57,758.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.70%
- APR:
9.20%