Hire Purchase (HP) representative example
Based on a cash price of €47,950 with a €16,783 deposit total, borrowing €31,168 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€642.46
- Final payment:
€717.46
- Cash price:
€47,950.00
- Customer deposit:
€16,782.50
- Total deposit:
€16,782.50
- Amount of credit:
€31,167.50
- Total amount payable:
€55,480.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.70%
- APR:
9.20%