Hire Purchase (HP) representative example
Based on a cash price of €51,025 with a €12,756 deposit total, borrowing €38,269 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€755.96
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€830.96
- Cash price:
€51,025.00
- Customer deposit:
€12,756.25
- Total deposit:
€12,756.25
- Amount of credit:
€38,268.75
- Total amount payable:
€58,263.85
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%