Hire Purchase (HP) representative example
Based on a cash price of €30,945 with a €7,736 deposit total, borrowing €23,209 at a representative APR of 8.00% and the following:
- 58 monthly payments of:
€464.50
- Fixed rate of interest per annum:
7.45%
- Optional final payment:
€539.50
- Cash price:
€30,945.00
- Customer deposit:
€7,736.25
- Total deposit:
€7,736.25
- Amount of credit:
€23,208.75
- Total amount payable:
€35,756.25
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.00%