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Hire Purchase (HP) representative example
Based on a cash price of €43,995 with a €10,999 deposit total, borrowing €32,996 at a representative APR of 7.30% and the following:
- 58 monthly payments of: €651.81
- Fixed rate of interest per annum: 6.90%
- Optional final payment: €726.81
- Cash price: €43,995.00
- Customer deposit: €10,998.75
- Total deposit: €10,998.75
- Amount of credit: €32,996.25
- Total amount payable: €50,257.35
- Option to purchase fee: €75.00
- Documentation fee: €75.00
- APR: 7.30%
