Hire Purchase (HP) representative example
Based on a cash price of €44,945 with a €11,236 deposit total, borrowing €33,709 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€682.69
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€757.69
- Cash price:
€44,945.00
- Customer deposit:
€11,236.25
- Total deposit:
€11,236.25
- Amount of credit:
€33,708.75
- Total amount payable:
€52,347.65
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.40%