Hire Purchase (HP) representative example
Based on a cash price of €42,995 with a €10,749 deposit total, borrowing €32,246 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€640.80
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€715.80
- Cash price:
€42,995.00
- Customer deposit:
€10,748.75
- Total deposit:
€10,748.75
- Amount of credit:
€32,246.25
- Total amount payable:
€49,346.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%