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Hire Purchase (HP) representative example
Based on a cash price of €59,950 with a €20,983 deposit total, borrowing €38,968 at a representative APR of 7.30% and the following:
- 58 monthly payments of: €769.77
- Final payment: €844.77
- Cash price: €59,950.00
- Customer deposit: €20,982.50
- Total deposit: €20,982.50
- Amount of credit: €38,967.50
- Total amount payable: €67,318.70
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 6.90%
- APR: 7.30%