Hire Purchase (HP) representative example
Based on a cash price of €36,900 with a €9,225 deposit total, borrowing €27,675 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€560.49
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€635.49
- Cash price:
€36,900.00
- Customer deposit:
€9,225.00
- Total deposit:
€9,225.00
- Amount of credit:
€27,675.00
- Total amount payable:
€43,004.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.50%