Hire Purchase (HP) representative example
Based on a cash price of €52,595 with a €13,149 deposit total, borrowing €39,446 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€779.22
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€854.22
- Cash price:
€52,595.00
- Customer deposit:
€13,148.75
- Total deposit:
€13,148.75
- Amount of credit:
€39,446.25
- Total amount payable:
€60,051.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%