Hire Purchase (HP) representative example
Based on a cash price of €27,950 with a €9,783 deposit total, borrowing €18,168 at a representative APR of 8.80% and the following:
- 58 monthly payments of:
€370.11
- Final payment:
€445.11
- Cash price:
€27,950.00
- Customer deposit:
€9,782.50
- Total deposit:
€9,782.50
- Amount of credit:
€18,167.50
- Total amount payable:
€32,139.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.80%