Hire Purchase (HP) representative example
Based on a cash price of €58,950 with a €20,633 deposit total, borrowing €38,318 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€780.61
- Final payment:
€855.61
- Cash price:
€58,950.00
- Customer deposit:
€20,632.50
- Total deposit:
€20,632.50
- Amount of credit:
€38,317.50
- Total amount payable:
€67,619.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.70%