Hire Purchase (HP) representative example
Based on a cash price of €37,625 with a €9,406 deposit total, borrowing €28,219 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€557.43
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€632.43
- Cash price:
€37,625.00
- Customer deposit:
€9,406.25
- Total deposit:
€9,406.25
- Amount of credit:
€28,218.75
- Total amount payable:
€43,002.05
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%