Hire Purchase (HP) representative example
Based on a cash price of €60,950 with a €21,333 deposit total, borrowing €39,618 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€811.86
- Final payment:
€886.86
- Cash price:
€60,950.00
- Customer deposit:
€21,332.50
- Total deposit:
€21,332.50
- Amount of credit:
€39,617.50
- Total amount payable:
€70,194.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
8.90%