Hire Purchase (HP) representative example
Based on a cash price of €43,995 with a €10,999 deposit total, borrowing €32,996 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€680.95
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€755.95
- Cash price:
€43,995.00
- Customer deposit:
€10,998.75
- Total deposit:
€10,998.75
- Amount of credit:
€32,996.25
- Total amount payable:
€52,005.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%