Hire Purchase (HP) representative example
Based on a cash price of €34,950 with a €12,233 deposit total, borrowing €22,718 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€460.09
- Final payment:
€535.09
- Cash price:
€34,950.00
- Customer deposit:
€12,232.50
- Total deposit:
€12,232.50
- Amount of credit:
€22,717.50
- Total amount payable:
€39,987.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%