Hire Purchase (HP) representative example
Based on a cash price of €38,750 with a €13,563 deposit total, borrowing €25,188 at a representative APR of 9.00% and the following:
- 58 monthly payments of:
€516.15
- Final payment:
€591.15
- Cash price:
€38,750.00
- Customer deposit:
€13,562.50
- Total deposit:
€13,562.50
- Amount of credit:
€25,187.50
- Total amount payable:
€44,681.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
9.00%