Hire Purchase (HP) representative example
Based on a cash price of €44,715 with a €11,179 deposit total, borrowing €33,536 at a representative APR of 7.90% and the following:
- 58 monthly payments of:
€671.20
- Fixed rate of interest per annum:
7.45%
- Optional final payment:
€746.20
- Cash price:
€44,715.00
- Customer deposit:
€11,178.75
- Total deposit:
€11,178.75
- Amount of credit:
€33,536.25
- Total amount payable:
€51,600.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.90%