Hire Purchase (HP) representative example
Based on a cash price of €46,495 with a €11,624 deposit total, borrowing €34,871 at a representative APR of 7.90% and the following:
- 58 monthly payments of:
€697.92
- Fixed rate of interest per annum:
7.45%
- Optional final payment:
€772.92
- Cash price:
€46,495.00
- Customer deposit:
€11,623.75
- Total deposit:
€11,623.75
- Amount of credit:
€34,871.25
- Total amount payable:
€53,648.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.90%