Hire Purchase (HP) representative example
Based on a cash price of €52,995 with a €13,249 deposit total, borrowing €39,746 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€804.96
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€879.96
- Cash price:
€52,995.00
- Customer deposit:
€13,248.75
- Total deposit:
€13,248.75
- Amount of credit:
€39,746.25
- Total amount payable:
€61,696.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.40%