Hire Purchase (HP) representative example
Based on a cash price of €48,780 with a €12,195 deposit total, borrowing €36,585 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€755.01
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€830.01
- Cash price:
€48,780.00
- Customer deposit:
€12,195.00
- Total deposit:
€12,195.00
- Amount of credit:
€36,585.00
- Total amount payable:
€57,645.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.30%