Hire Purchase (HP) representative example
Based on a cash price of €35,495 with a €8,874 deposit total, borrowing €26,621 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€549.39
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€624.39
- Cash price:
€35,495.00
- Customer deposit:
€8,873.75
- Total deposit:
€8,873.75
- Amount of credit:
€26,621.25
- Total amount payable:
€41,987.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%