Hire Purchase (HP) representative example
Based on a cash price of €66,925 with a €23,424 deposit total, borrowing €43,501 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€864.46
- Final payment:
€939.46
- Cash price:
€66,925.00
- Customer deposit:
€23,423.75
- Total deposit:
€23,423.75
- Amount of credit:
€43,501.25
- Total amount payable:
€75,441.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%