Hire Purchase (HP) representative example
Based on a cash price of €54,440 with a €5,444 deposit total, borrowing €48,996 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€973.65
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€1,048.65
- Cash price:
€54,440.00
- Customer deposit:
€5,444.00
- Total deposit:
€5,444.00
- Amount of credit:
€48,996.00
- Total amount payable:
€64,013.00
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%