Hire Purchase (HP) representative example
Based on a cash price of €29,950 with a €10,483 deposit total, borrowing €19,468 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€394.27
- Final payment:
€469.27
- Cash price:
€29,950.00
- Customer deposit:
€10,482.50
- Total deposit:
€10,482.50
- Amount of credit:
€19,467.50
- Total amount payable:
€34,288.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%