Hire Purchase (HP) representative example
Based on a cash price of €75,950 with a €26,583 deposit total, borrowing €49,368 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€1,011.66
- Final payment:
€1,086.66
- Cash price:
€75,950.00
- Customer deposit:
€26,582.50
- Total deposit:
€26,582.50
- Amount of credit:
€49,367.50
- Total amount payable:
€87,432.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
8.90%