Hire Purchase (HP) representative example
Based on a cash price of €34,950 with a €8,738 deposit total, borrowing €26,213 at a representative APR of 8.50% and the following:
- 58 monthly payments of:
€530.87
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€605.87
- Cash price:
€34,950.00
- Customer deposit:
€8,737.50
- Total deposit:
€8,737.50
- Amount of credit:
€26,212.50
- Total amount payable:
€40,739.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.50%