Hire Purchase (HP) representative example
Based on a cash price of €56,945 with a €14,236 deposit total, borrowing €42,709 at a representative APR of 7.80% and the following:
- 58 monthly payments of:
€854.78
- Fixed rate of interest per annum:
7.45%
- Optional final payment:
€929.78
- Cash price:
€56,945.00
- Customer deposit:
€14,236.25
- Total deposit:
€14,236.25
- Amount of credit:
€42,708.75
- Total amount payable:
€65,673.05
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.80%