Hire Purchase (HP) representative example
Based on a cash price of €34,995 with a €8,749 deposit total, borrowing €26,246 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€541.65
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€616.65
- Cash price:
€34,995.00
- Customer deposit:
€8,748.75
- Total deposit:
€8,748.75
- Amount of credit:
€26,246.25
- Total amount payable:
€41,397.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%