Hire Purchase (HP) representative example
Based on a cash price of €43,950 with a €15,383 deposit total, borrowing €28,568 at a representative APR of 9.00% and the following:
- 58 monthly payments of:
€585.42
- Final payment:
€660.42
- Cash price:
€43,950.00
- Customer deposit:
€15,382.50
- Total deposit:
€15,382.50
- Amount of credit:
€28,567.50
- Total amount payable:
€50,657.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
9.00%