Hire Purchase (HP) representative example
Based on a cash price of €51,950 with a €12,988 deposit total, borrowing €38,963 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€769.67
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€844.67
- Cash price:
€51,950.00
- Customer deposit:
€12,987.50
- Total deposit:
€12,987.50
- Amount of credit:
€38,962.50
- Total amount payable:
€59,317.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%