Hire Purchase (HP) representative example
Based on a cash price of €51,995 with a €12,999 deposit total, borrowing €38,996 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€804.77
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€879.77
- Cash price:
€51,995.00
- Customer deposit:
€12,998.75
- Total deposit:
€12,998.75
- Amount of credit:
€38,996.25
- Total amount payable:
€61,434.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%