Hire Purchase (HP) representative example
Based on a cash price of €33,995 with a €8,499 deposit total, borrowing €25,496 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€526.17
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€601.17
- Cash price:
€33,995.00
- Customer deposit:
€8,498.75
- Total deposit:
€8,498.75
- Amount of credit:
€25,496.25
- Total amount payable:
€40,218.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%