Hire Purchase (HP) representative example
Based on a cash price of €70,190 with a €17,548 deposit total, borrowing €52,643 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,039.90
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,114.90
- Cash price:
€70,190.00
- Customer deposit:
€17,547.50
- Total deposit:
€17,547.50
- Amount of credit:
€52,642.50
- Total amount payable:
€80,091.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%