Hire Purchase (HP) representative example
Based on a cash price of €61,945 with a €15,486 deposit total, borrowing €46,459 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€946.47
- Fixed rate of interest per annum:
8.20%
- Optional final payment:
€1,021.47
- Cash price:
€61,945.00
- Customer deposit:
€15,486.25
- Total deposit:
€15,486.25
- Amount of credit:
€46,458.75
- Total amount payable:
€72,424.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.60%