Hire Purchase (HP) representative example
Based on a cash price of €65,745 with a €16,436 deposit total, borrowing €49,309 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€1,017.60
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€1,092.60
- Cash price:
€65,745.00
- Customer deposit:
€16,436.25
- Total deposit:
€16,436.25
- Amount of credit:
€49,308.75
- Total amount payable:
€77,642.25
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.20%