Hire Purchase (HP) representative example
Based on a cash price of €73,950 with a €25,883 deposit total, borrowing €48,068 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€979.24
- Final payment:
€1,054.24
- Cash price:
€73,950.00
- Customer deposit:
€25,882.50
- Total deposit:
€25,882.50
- Amount of credit:
€48,067.50
- Total amount payable:
€84,786.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.60%