Hire Purchase (HP) representative example
Based on a cash price of €47,915 with a €11,979 deposit total, borrowing €35,936 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€709.89
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€784.89
- Cash price:
€47,915.00
- Customer deposit:
€11,978.75
- Total deposit:
€11,978.75
- Amount of credit:
€35,936.25
- Total amount payable:
€54,722.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%