Hire Purchase (HP) representative example
Based on a cash price of €51,995 with a €12,999 deposit total, borrowing €38,996 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€774.94
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€849.94
- Cash price:
€51,995.00
- Customer deposit:
€12,998.75
- Total deposit:
€12,998.75
- Amount of credit:
€38,996.25
- Total amount payable:
€59,645.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%