Hire Purchase (HP) representative example
Based on a cash price of €36,785 with a €9,196 deposit total, borrowing €27,589 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€548.24
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€623.24
- Cash price:
€36,785.00
- Customer deposit:
€9,196.25
- Total deposit:
€9,196.25
- Amount of credit:
€27,588.75
- Total amount payable:
€42,240.65
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%