Hire Purchase (HP) representative example
Based on a cash price of €25,820 with a €6,455 deposit total, borrowing €19,365 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€382.54
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€457.54
- Cash price:
€25,820.00
- Customer deposit:
€6,455.00
- Total deposit:
€6,455.00
- Amount of credit:
€19,365.00
- Total amount payable:
€29,557.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.40%