Hire Purchase (HP) representative example
Based on a cash price of €80,750 with a €28,263 deposit total, borrowing €52,488 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,043.03
- Final payment:
€1,118.03
- Cash price:
€80,750.00
- Customer deposit:
€28,262.50
- Total deposit:
€28,262.50
- Amount of credit:
€52,487.50
- Total amount payable:
€90,994.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%