Hire Purchase (HP) representative example
Based on a cash price of €72,750 with a €25,463 deposit total, borrowing €47,288 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€963.35
- Final payment:
€1,038.35
- Cash price:
€72,750.00
- Customer deposit:
€25,462.50
- Total deposit:
€25,462.50
- Amount of credit:
€47,287.50
- Total amount payable:
€83,413.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.60%