Hire Purchase (HP) representative example
Based on a cash price of €22,036 with a €5,509 deposit total, borrowing €16,527 at a representative APR of 7.70% and the following:
- 58 monthly payments of:
€328.43
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€403.43
- Cash price:
€22,036.00
- Customer deposit:
€5,509.00
- Total deposit:
€5,509.00
- Amount of credit:
€16,527.00
- Total amount payable:
€25,364.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.70%