Hire Purchase (HP) representative example
Based on a cash price of €43,000 with a €15,050 deposit total, borrowing €27,950 at a representative APR of 9.00% and the following:
- 58 monthly payments of:
€572.76
- Final payment:
€647.76
- Cash price:
€43,000.00
- Customer deposit:
€15,050.00
- Total deposit:
€15,050.00
- Amount of credit:
€27,950.00
- Total amount payable:
€49,565.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
9.00%