Hire Purchase (HP) representative example
Based on a cash price of €29,495 with a €7,374 deposit total, borrowing €22,121 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€448.01
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€523.01
- Cash price:
€29,495.00
- Customer deposit:
€7,373.75
- Total deposit:
€7,373.75
- Amount of credit:
€22,121.25
- Total amount payable:
€34,404.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.50%