Hire Purchase (HP) representative example
Based on a cash price of €39,000 with a €9,750 deposit total, borrowing €29,250 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€581.26
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€656.26
- Cash price:
€39,000.00
- Customer deposit:
€9,750.00
- Total deposit:
€9,750.00
- Amount of credit:
€29,250.00
- Total amount payable:
€44,775.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%