Hire Purchase (HP) representative example
Based on a cash price of €48,865 with a €12,216 deposit total, borrowing €36,649 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€728.29
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€803.29
- Cash price:
€48,865.00
- Customer deposit:
€12,216.25
- Total deposit:
€12,216.25
- Amount of credit:
€36,648.75
- Total amount payable:
€56,063.65
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%