Hire Purchase (HP) representative example
Based on a cash price of €38,995 with a €9,749 deposit total, borrowing €29,246 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€592.31
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€667.31
- Cash price:
€38,995.00
- Customer deposit:
€9,748.75
- Total deposit:
€9,748.75
- Amount of credit:
€29,246.25
- Total amount payable:
€45,437.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.40%