Hire Purchase (HP) representative example
Based on a cash price of €25,950 with a €9,083 deposit total, borrowing €16,868 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€343.63
- Final payment:
€418.63
- Cash price:
€25,950.00
- Customer deposit:
€9,082.50
- Total deposit:
€9,082.50
- Amount of credit:
€16,867.50
- Total amount payable:
€29,850.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.90%