Hire Purchase (HP) representative example
Based on a cash price of €35,950 with a €8,988 deposit total, borrowing €26,963 at a representative APR of 7.90% and the following:
- 58 monthly payments of:
€539.63
- Fixed rate of interest per annum:
7.45%
- Optional final payment:
€614.63
- Cash price:
€35,950.00
- Customer deposit:
€8,987.50
- Total deposit:
€8,987.50
- Amount of credit:
€26,962.50
- Total amount payable:
€41,515.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.90%