Hire Purchase (HP) representative example
Based on a cash price of €18,995 with a €4,749 deposit total, borrowing €14,246 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€288.52
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€363.52
- Cash price:
€18,995.00
- Customer deposit:
€4,748.75
- Total deposit:
€4,748.75
- Amount of credit:
€14,246.25
- Total amount payable:
€22,209.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.60%