Hire Purchase (HP) representative example
Based on a cash price of €34,950 with a €8,738 deposit total, borrowing €26,213 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€540.95
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€615.95
- Cash price:
€34,950.00
- Customer deposit:
€8,737.50
- Total deposit:
€8,737.50
- Amount of credit:
€26,212.50
- Total amount payable:
€41,344.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%