Hire Purchase (HP) representative example
Based on a cash price of €71,745 with a €25,111 deposit total, borrowing €46,634 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€926.72
- Final payment:
€1,001.72
- Cash price:
€71,745.00
- Customer deposit:
€25,110.75
- Total deposit:
€25,110.75
- Amount of credit:
€46,634.25
- Total amount payable:
€80,863.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%