Hire Purchase (HP) representative example
Based on a cash price of €37,255 with a €9,314 deposit total, borrowing €27,941 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€555.25
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€630.25
- Cash price:
€37,255.00
- Customer deposit:
€9,313.75
- Total deposit:
€9,313.75
- Amount of credit:
€27,941.25
- Total amount payable:
€42,778.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%