Hire Purchase (HP) representative example
Based on a cash price of €79,995 with a €19,999 deposit total, borrowing €59,996 at a representative APR of 7.80% and the following:
- 58 monthly payments of:
€1,200.78
- Fixed rate of interest per annum:
7.45%
- Optional final payment:
€1,275.78
- Cash price:
€79,995.00
- Customer deposit:
€19,998.75
- Total deposit:
€19,998.75
- Amount of credit:
€59,996.25
- Total amount payable:
€92,195.55
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.80%