Hire Purchase (HP) representative example
Based on a cash price of €42,950 with a €10,738 deposit total, borrowing €32,213 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€664.78
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€739.78
- Cash price:
€42,950.00
- Customer deposit:
€10,737.50
- Total deposit:
€10,737.50
- Amount of credit:
€32,212.50
- Total amount payable:
€50,774.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%