Hire Purchase (HP) representative example
Based on a cash price of €69,945 with a €17,486 deposit total, borrowing €52,459 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€1,082.60
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€1,157.60
- Cash price:
€69,945.00
- Customer deposit:
€17,486.25
- Total deposit:
€17,486.25
- Amount of credit:
€52,458.75
- Total amount payable:
€82,592.25
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.20%