Hire Purchase (HP) representative example
Based on a cash price of €65,950 with a €16,488 deposit total, borrowing €49,463 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€1,001.74
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€1,076.74
- Cash price:
€65,950.00
- Customer deposit:
€16,487.50
- Total deposit:
€16,487.50
- Amount of credit:
€49,462.50
- Total amount payable:
€76,741.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.40%