Hire Purchase (HP) representative example
Based on a cash price of €54,785 with a €13,696 deposit total, borrowing €41,089 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€816.52
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€891.52
- Cash price:
€54,785.00
- Customer deposit:
€13,696.25
- Total deposit:
€13,696.25
- Amount of credit:
€41,088.75
- Total amount payable:
€62,837.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%