Hire Purchase (HP) representative example
Based on a cash price of €26,650 with a €6,663 deposit total, borrowing €19,988 at a representative APR of 9.10% and the following:
- 58 monthly payments of:
€409.59
- Fixed rate of interest per annum:
8.45%
- Optional final payment:
€484.59
- Cash price:
€26,650.00
- Customer deposit:
€6,662.50
- Total deposit:
€6,662.50
- Amount of credit:
€19,987.50
- Total amount payable:
€31,387.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.10%