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Hire Purchase (HP) representative example
Based on a cash price of €67,950 with a €23,783 deposit total, borrowing €44,168 at a representative APR of 8.40% and the following:
- 58 monthly payments of: €894.50
- Final payment: €969.50
- Cash price: €67,950.00
- Customer deposit: €23,782.50
- Total deposit: €23,782.50
- Amount of credit: €44,167.50
- Total amount payable: €77,602.50
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 7.95%
- APR: 8.40%