Hire Purchase (HP) representative example
Based on a cash price of €50,308 with a €12,577 deposit total, borrowing €37,731 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€745.34
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€820.34
- Cash price:
€50,308.00
- Customer deposit:
€12,577.00
- Total deposit:
€12,577.00
- Amount of credit:
€37,731.00
- Total amount payable:
€57,447.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%