Hire Purchase (HP) representative example
Based on a cash price of €41,495 with a €10,374 deposit total, borrowing €31,121 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€614.77
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€689.77
- Cash price:
€41,495.00
- Customer deposit:
€10,373.75
- Total deposit:
€10,373.75
- Amount of credit:
€31,121.25
- Total amount payable:
€47,409.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%