Hire Purchase (HP) representative example
Based on a cash price of €47,945 with a €11,986 deposit total, borrowing €35,959 at a representative APR of 7.90% and the following:
- 58 monthly payments of:
€719.69
- Fixed rate of interest per annum:
7.45%
- Optional final payment:
€794.69
- Cash price:
€47,945.00
- Customer deposit:
€11,986.25
- Total deposit:
€11,986.25
- Amount of credit:
€35,958.75
- Total amount payable:
€55,317.65
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.90%