Hire Purchase (HP) representative example
Based on a cash price of €69,795 with a €17,449 deposit total, borrowing €52,346 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,034.05
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,109.05
- Cash price:
€69,795.00
- Customer deposit:
€17,448.75
- Total deposit:
€17,448.75
- Amount of credit:
€52,346.25
- Total amount payable:
€79,641.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%