Hire Purchase (HP) representative example
Based on a cash price of €40,995 with a €10,249 deposit total, borrowing €30,746 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€607.36
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€682.36
- Cash price:
€40,995.00
- Customer deposit:
€10,248.75
- Total deposit:
€10,248.75
- Amount of credit:
€30,746.25
- Total amount payable:
€46,840.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%