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 8.70% and the following:
- 58 monthly payments of:
€767.37
- Final payment:
€842.37
- Cash price:
€57,950.00
- Customer deposit:
€20,282.50
- Total deposit:
€20,282.50
- Amount of credit:
€37,667.50
- Total amount payable:
€66,474.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.70%