Hire Purchase (HP) representative example
Based on a cash price of €66,950 with a €23,433 deposit total, borrowing €43,518 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€864.78
- Final payment:
€939.78
- Cash price:
€66,950.00
- Customer deposit:
€23,432.50
- Total deposit:
€23,432.50
- Amount of credit:
€43,517.50
- Total amount payable:
€75,469.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.15%
- APR:
7.50%