Hire Purchase (HP) representative example
Based on a cash price of €43,650 with a €10,913 deposit total, borrowing €32,738 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€646.70
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€721.70
- Cash price:
€43,650.00
- Customer deposit:
€10,912.50
- Total deposit:
€10,912.50
- Amount of credit:
€32,737.50
- Total amount payable:
€49,864.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.30%