Hire Purchase (HP) representative example
Based on a cash price of €49,950 with a €17,483 deposit total, borrowing €32,468 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€641.36
- Final payment:
€716.36
- Cash price:
€49,950.00
- Customer deposit:
€17,482.50
- Total deposit:
€17,482.50
- Amount of credit:
€32,467.50
- Total amount payable:
€56,114.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.30%