Hire Purchase (HP) representative example
Based on a cash price of €38,950 with a €13,633 deposit total, borrowing €25,318 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€521.87
- Final payment:
€596.87
- Cash price:
€38,950.00
- Customer deposit:
€13,632.50
- Total deposit:
€13,632.50
- Amount of credit:
€25,317.50
- Total amount payable:
€45,094.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.70%
- APR:
9.30%