Hire Purchase (HP) representative example
Based on a cash price of €38,945 with a €9,736 deposit total, borrowing €29,209 at a representative APR of 7.90% and the following:
- 58 monthly payments of:
€584.59
- Fixed rate of interest per annum:
7.45%
- Optional final payment:
€659.59
- Cash price:
€38,945.00
- Customer deposit:
€9,736.25
- Total deposit:
€9,736.25
- Amount of credit:
€29,208.75
- Total amount payable:
€44,961.65
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.90%