Hire Purchase (HP) representative example
Based on a cash price of €30,440 with a €7,610 deposit total, borrowing €22,830 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€453.68
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€528.68
- Cash price:
€30,440.00
- Customer deposit:
€7,610.00
- Total deposit:
€7,610.00
- Amount of credit:
€22,830.00
- Total amount payable:
€34,980.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%