Hire Purchase (HP) representative example
Based on a cash price of €45,950 with a €16,083 deposit total, borrowing €29,868 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€616.38
- Final payment:
€691.38
- Cash price:
€45,950.00
- Customer deposit:
€16,082.50
- Total deposit:
€16,082.50
- Amount of credit:
€29,867.50
- Total amount payable:
€53,215.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.75%
- APR:
9.30%