Hire Purchase (HP) representative example
Based on a cash price of €74,450 with a €26,058 deposit total, borrowing €48,393 at a representative APR of 9.80% and the following:
- 58 monthly payments of:
€1,010.43
- Final payment:
€1,085.43
- Cash price:
€74,450.00
- Customer deposit:
€26,057.50
- Total deposit:
€26,057.50
- Amount of credit:
€48,392.50
- Total amount payable:
€86,833.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
9.25%
- APR:
9.80%