Hire Purchase (HP) representative example
Based on a cash price of €45,495 with a €11,374 deposit total, borrowing €34,121 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€691.04
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€766.04
- Cash price:
€45,495.00
- Customer deposit:
€11,373.75
- Total deposit:
€11,373.75
- Amount of credit:
€34,121.25
- Total amount payable:
€52,986.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.40%