Hire Purchase (HP) representative example
Based on a cash price of €36,495 with a €9,124 deposit total, borrowing €27,371 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€543.92
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€618.92
- Cash price:
€36,495.00
- Customer deposit:
€9,123.75
- Total deposit:
€9,123.75
- Amount of credit:
€27,371.25
- Total amount payable:
€41,908.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%