Hire Purchase (HP) representative example
Based on a cash price of €57,950 with a €20,283 deposit total, borrowing €37,668 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€762.86
- Final payment:
€837.86
- Cash price:
€57,950.00
- Customer deposit:
€20,282.50
- Total deposit:
€20,282.50
- Amount of credit:
€37,667.50
- Total amount payable:
€66,204.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.40%