Hire Purchase (HP) representative example
Based on a cash price of €60,450 with a €15,113 deposit total, borrowing €45,338 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€929.08
- Fixed rate of interest per annum:
8.45%
- Optional final payment:
€1,004.08
- Cash price:
€60,450.00
- Customer deposit:
€15,112.50
- Total deposit:
€15,112.50
- Amount of credit:
€45,337.50
- Total amount payable:
€71,007.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.90%