Hire Purchase (HP) representative example
Based on a cash price of €51,540 with a €12,885 deposit total, borrowing €38,655 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€763.59
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€838.59
- Cash price:
€51,540.00
- Customer deposit:
€12,885.00
- Total deposit:
€12,885.00
- Amount of credit:
€38,655.00
- Total amount payable:
€58,850.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%