Hire Purchase (HP) representative example
Based on a cash price of €41,950 with a €14,683 deposit total, borrowing €27,268 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€555.50
- Final payment:
€630.50
- Cash price:
€41,950.00
- Customer deposit:
€14,682.50
- Total deposit:
€14,682.50
- Amount of credit:
€27,267.50
- Total amount payable:
€48,162.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.20%
- APR:
8.70%