Hire Purchase (HP) representative example
Based on a cash price of €39,925 with a €13,974 deposit total, borrowing €25,951 at a representative APR of 10.10% and the following:
- 58 monthly payments of:
€545.02
- Final payment:
€620.02
- Cash price:
€39,925.00
- Customer deposit:
€13,973.75
- Total deposit:
€13,973.75
- Amount of credit:
€25,951.25
- Total amount payable:
€46,824.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
9.50%
- APR:
10.10%