Hire Purchase (HP) representative example
Based on a cash price of €61,950 with a €15,488 deposit total, borrowing €46,463 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€952.13
- Fixed rate of interest per annum:
8.45%
- Optional final payment:
€1,027.13
- Cash price:
€61,950.00
- Customer deposit:
€15,487.50
- Total deposit:
€15,487.50
- Amount of credit:
€46,462.50
- Total amount payable:
€72,765.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.90%