Hire Purchase (HP) representative example
Based on a cash price of €78,950 with a €27,633 deposit total, borrowing €51,318 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€1,051.62
- Final payment:
€1,126.62
- Cash price:
€78,950.00
- Customer deposit:
€27,632.50
- Total deposit:
€27,632.50
- Amount of credit:
€51,317.50
- Total amount payable:
€90,879.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Rate of interest:
8.45%
- APR:
8.90%