Hire Purchase (HP) representative example
Based on a cash price of €47,900 with a €11,975 deposit total, borrowing €35,925 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€709.66
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€784.66
- Cash price:
€47,900.00
- Customer deposit:
€11,975.00
- Total deposit:
€11,975.00
- Amount of credit:
€35,925.00
- Total amount payable:
€54,704.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%