Hire Purchase (HP) representative example
Based on a cash price of €53,565 with a €13,391 deposit total, borrowing €40,174 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€793.59
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€868.59
- Cash price:
€53,565.00
- Customer deposit:
€13,391.25
- Total deposit:
€13,391.25
- Amount of credit:
€40,173.75
- Total amount payable:
€61,156.65
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%