Hire Purchase (HP) representative example
Based on a cash price of €35,995 with a €8,999 deposit total, borrowing €26,996 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€536.47
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€611.47
- Cash price:
€35,995.00
- Customer deposit:
€8,998.75
- Total deposit:
€8,998.75
- Amount of credit:
€26,996.25
- Total amount payable:
€41,336.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%