Hire Purchase (HP) representative example
Based on a cash price of €94,950 with a €33,233 deposit total, borrowing €61,718 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,219.17
- Final payment:
€1,294.17
- Cash price:
€94,950.00
- Customer deposit:
€33,232.50
- Total deposit:
€33,232.50
- Amount of credit:
€61,717.50
- Total amount payable:
€106,532.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.20%