Hire Purchase (HP) representative example
Based on a cash price of €67,950 with a €23,783 deposit total, borrowing €44,168 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€872.49
- Final payment:
€947.49
- Cash price:
€67,950.00
- Customer deposit:
€23,782.50
- Total deposit:
€23,782.50
- Amount of credit:
€44,167.50
- Total amount payable:
€76,281.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
6.90%
- APR:
7.30%