Hire Purchase (HP) representative example
Based on a cash price of €60,572 with a €15,143 deposit total, borrowing €45,429 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€897.41
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€972.41
- Cash price:
€60,572.00
- Customer deposit:
€15,143.00
- Total deposit:
€15,143.00
- Amount of credit:
€45,429.00
- Total amount payable:
€69,137.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%