Hire Purchase (HP) representative example
Based on a cash price of €47,995 with a €11,999 deposit total, borrowing €35,996 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€742.86
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€817.86
- Cash price:
€47,995.00
- Customer deposit:
€11,998.75
- Total deposit:
€11,998.75
- Amount of credit:
€35,996.25
- Total amount payable:
€56,720.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%