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Hire Purchase (HP) representative example
Based on a cash price of €64,750 with a €22,663 deposit total, borrowing €42,088 at a representative APR of 8.40% and the following:
- 58 monthly payments of: €852.38
- Final payment: €927.38
- Cash price: €64,750.00
- Customer deposit: €22,662.50
- Total deposit: €22,662.50
- Amount of credit: €42,087.50
- Total amount payable: €73,955.30
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 7.95%
- APR: 8.40%