Hire Purchase (HP) representative example
Based on a cash price of €76,950 with a €26,933 deposit total, borrowing €50,018 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€988.05
- Final payment:
€1,063.05
- Cash price:
€76,950.00
- Customer deposit:
€26,932.50
- Total deposit:
€26,932.50
- Amount of credit:
€50,017.50
- Total amount payable:
€86,365.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.20%