Hire Purchase (HP) representative example
Based on a cash price of €39,495 with a €9,874 deposit total, borrowing €29,621 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€585.14
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€660.14
- Cash price:
€39,495.00
- Customer deposit:
€9,873.75
- Total deposit:
€9,873.75
- Amount of credit:
€29,621.25
- Total amount payable:
€45,132.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%