Hire Purchase (HP) representative example
Based on a cash price of €45,995 with a €11,499 deposit total, borrowing €34,496 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€711.91
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€786.91
- Cash price:
€45,995.00
- Customer deposit:
€11,498.75
- Total deposit:
€11,498.75
- Amount of credit:
€34,496.25
- Total amount payable:
€54,363.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%