Hire Purchase (HP) representative example
Based on a cash price of €77,995 with a €19,499 deposit total, borrowing €58,496 at a representative APR of 7.80% and the following:
- 58 monthly payments of:
€1,170.76
- Fixed rate of interest per annum:
7.45%
- Optional final payment:
€1,245.76
- Cash price:
€77,995.00
- Customer deposit:
€19,498.75
- Total deposit:
€19,498.75
- Amount of credit:
€58,496.25
- Total amount payable:
€89,894.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.80%