Hire Purchase (HP) representative example
Based on a cash price of €28,950 with a €10,133 deposit total, borrowing €18,818 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€381.10
- Final payment:
€456.10
- Cash price:
€28,950.00
- Customer deposit:
€10,132.50
- Total deposit:
€10,132.50
- Amount of credit:
€18,817.50
- Total amount payable:
€33,148.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
7.95%
- APR:
8.50%