Hire Purchase (HP) representative example
Based on a cash price of €78,795 with a €19,699 deposit total, borrowing €59,096 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,174.36
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€1,249.36
- Cash price:
€78,795.00
- Customer deposit:
€19,698.75
- Total deposit:
€19,698.75
- Amount of credit:
€59,096.25
- Total amount payable:
€90,310.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%