Hire Purchase (HP) representative example
Based on a cash price of €16,950 with a €5,933 deposit total, borrowing €11,018 at a representative APR of 9.60% and the following:
- 58 monthly payments of:
€227.37
- Final payment:
€302.37
- Cash price:
€16,950.00
- Customer deposit:
€5,932.50
- Total deposit:
€5,932.50
- Amount of credit:
€11,017.50
- Total amount payable:
€19,724.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.75%
- APR:
9.60%