Hire Purchase (HP) representative example
Based on a cash price of €48,500 with a €12,125 deposit total, borrowing €36,375 at a representative APR of 8.70% and the following:
- 58 monthly payments of:
€741.04
- Fixed rate of interest per annum:
8.20%
- Optional final payment:
€816.04
- Cash price:
€48,500.00
- Customer deposit:
€12,125.00
- Total deposit:
€12,125.00
- Amount of credit:
€36,375.00
- Total amount payable:
€56,737.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.70%