Hire Purchase (HP) representative example
Based on a cash price of €32,922 with a €3,292 deposit total, borrowing €29,630 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€585.31
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€660.31
- Cash price:
€32,922.00
- Customer deposit:
€3,292.20
- Total deposit:
€3,292.20
- Amount of credit:
€29,629.80
- Total amount payable:
€38,560.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%