Hire Purchase (HP) representative example
Based on a cash price of €79,950 with a €27,983 deposit total, borrowing €51,968 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€1,052.47
- Final payment:
€1,127.47
- Cash price:
€79,950.00
- Customer deposit:
€27,982.50
- Total deposit:
€27,982.50
- Amount of credit:
€51,967.50
- Total amount payable:
€91,280.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.40%