Hire Purchase (HP) representative example
Based on a cash price of €45,950 with a €11,488 deposit total, borrowing €34,463 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€684.84
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€759.84
- Cash price:
€45,950.00
- Customer deposit:
€11,487.50
- Total deposit:
€11,487.50
- Amount of credit:
€34,462.50
- Total amount payable:
€52,727.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%