Hire Purchase (HP) representative example
Based on a cash price of €30,690 with a €7,673 deposit total, borrowing €23,018 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€457.40
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€532.40
- Cash price:
€30,690.00
- Customer deposit:
€7,672.50
- Total deposit:
€7,672.50
- Amount of credit:
€23,017.50
- Total amount payable:
€35,266.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%