Hire Purchase (HP) representative example
Based on a cash price of €44,325 with a €11,081 deposit total, borrowing €33,244 at a representative APR of 7.60% and the following:
- 58 monthly payments of:
€660.62
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€735.62
- Cash price:
€44,325.00
- Customer deposit:
€11,081.25
- Total deposit:
€11,081.25
- Amount of credit:
€33,243.75
- Total amount payable:
€50,868.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.60%