Hire Purchase (HP) representative example
Based on a cash price of €53,950 with a €18,883 deposit total, borrowing €35,068 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€718.62
- Final payment:
€793.62
- Cash price:
€53,950.00
- Customer deposit:
€18,882.50
- Total deposit:
€18,882.50
- Amount of credit:
€35,067.50
- Total amount payable:
€62,149.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
8.90%