Hire Purchase (HP) representative example
Based on a cash price of €46,450 with a €11,613 deposit total, borrowing €34,838 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€692.29
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€767.29
- Cash price:
€46,450.00
- Customer deposit:
€11,612.50
- Total deposit:
€11,612.50
- Amount of credit:
€34,837.50
- Total amount payable:
€53,299.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%