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Hire Purchase (HP) representative example
Based on a cash price of €79,950 with a €27,983 deposit total, borrowing €51,968 at a representative APR of 7.20% and the following:
- 58 monthly payments of: €1,026.57
- Final payment: €1,101.57
- Cash price: €79,950.00
- Customer deposit: €27,982.50
- Total deposit: €27,982.50
- Amount of credit: €51,967.50
- Total amount payable: €89,726.70
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- Rate of interest: 6.90%
- APR: 7.20%