Hire Purchase (HP) representative example
Based on a cash price of €32,995 with a €8,249 deposit total, borrowing €24,746 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€510.69
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€585.69
- Cash price:
€32,995.00
- Customer deposit:
€8,248.75
- Total deposit:
€8,248.75
- Amount of credit:
€24,746.25
- Total amount payable:
€39,040.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%