Hire Purchase (HP) representative example
Based on a cash price of €32,155 with a €8,039 deposit total, borrowing €24,116 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€476.39
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€551.39
- Cash price:
€32,155.00
- Customer deposit:
€8,038.75
- Total deposit:
€8,038.75
- Amount of credit:
€24,116.25
- Total amount payable:
€36,772.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.40%