Hire Purchase (HP) representative example
Based on a cash price of €58,925 with a €20,624 deposit total, borrowing €38,301 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€789.51
- Final payment:
€864.51
- Cash price:
€58,925.00
- Customer deposit:
€20,623.75
- Total deposit:
€20,623.75
- Amount of credit:
€38,301.25
- Total amount payable:
€68,144.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.70%
- APR:
9.20%