Hire Purchase (HP) representative example
Based on a cash price of €33,955 with a €8,489 deposit total, borrowing €25,466 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€506.07
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€581.07
- Cash price:
€33,955.00
- Customer deposit:
€8,488.75
- Total deposit:
€8,488.75
- Amount of credit:
€25,466.25
- Total amount payable:
€39,002.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%