Hire Purchase (HP) representative example
Based on a cash price of €49,250 with a €12,313 deposit total, borrowing €36,938 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€756.94
- Fixed rate of interest per annum:
8.45%
- Optional final payment:
€831.94
- Cash price:
€49,250.00
- Customer deposit:
€12,312.50
- Total deposit:
€12,312.50
- Amount of credit:
€36,937.50
- Total amount payable:
€57,878.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.90%