Hire Purchase (HP) representative example
Based on a cash price of €81,150 with a €28,403 deposit total, borrowing €52,748 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,048.20
- Final payment:
€1,123.20
- Cash price:
€81,150.00
- Customer deposit:
€28,402.50
- Total deposit:
€28,402.50
- Amount of credit:
€52,747.50
- Total amount payable:
€91,444.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%