Hire Purchase (HP) representative example
Based on a cash price of €63,250 with a €15,813 deposit total, borrowing €47,438 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€966.41
- Fixed rate of interest per annum:
8.20%
- Optional final payment:
€1,041.41
- Cash price:
€63,250.00
- Customer deposit:
€15,812.50
- Total deposit:
€15,812.50
- Amount of credit:
€47,437.50
- Total amount payable:
€73,947.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.60%