Hire Purchase (HP) representative example
Based on a cash price of €32,495 with a €8,124 deposit total, borrowing €24,371 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€502.96
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€577.96
- Cash price:
€32,495.00
- Customer deposit:
€8,123.75
- Total deposit:
€8,123.75
- Amount of credit:
€24,371.25
- Total amount payable:
€38,451.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%