Hire Purchase (HP) representative example
Based on a cash price of €23,995 with a €5,999 deposit total, borrowing €17,996 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€357.62
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€432.62
- Cash price:
€23,995.00
- Customer deposit:
€5,998.75
- Total deposit:
€5,998.75
- Amount of credit:
€17,996.25
- Total amount payable:
€27,605.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.70%