Hire Purchase (HP) representative example
Based on a cash price of €32,795 with a €8,199 deposit total, borrowing €24,596 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€498.13
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€573.13
- Cash price:
€32,795.00
- Customer deposit:
€8,198.75
- Total deposit:
€8,198.75
- Amount of credit:
€24,596.25
- Total amount payable:
€38,236.55
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.50%