Hire Purchase (HP) representative example
Based on a cash price of €69,450 with a €24,308 deposit total, borrowing €45,143 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€919.65
- Final payment:
€994.65
- Cash price:
€69,450.00
- Customer deposit:
€24,307.50
- Total deposit:
€24,307.50
- Amount of credit:
€45,142.50
- Total amount payable:
€79,636.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.60%