Hire Purchase (HP) representative example
Based on a cash price of €47,995 with a €11,999 deposit total, borrowing €35,996 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€737.65
- Fixed rate of interest per annum:
8.45%
- Optional final payment:
€812.65
- Cash price:
€47,995.00
- Customer deposit:
€11,998.75
- Total deposit:
€11,998.75
- Amount of credit:
€35,996.25
- Total amount payable:
€56,407.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.90%