Hire Purchase (HP) representative example
Based on a cash price of €54,440 with a €13,610 deposit total, borrowing €40,830 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€811.38
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€886.38
- Cash price:
€54,440.00
- Customer deposit:
€13,610.00
- Total deposit:
€13,610.00
- Amount of credit:
€40,830.00
- Total amount payable:
€62,442.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%