Hire Purchase (HP) representative example
Based on a cash price of €69,995 with a €17,499 deposit total, borrowing €52,496 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,037.01
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,112.01
- Cash price:
€69,995.00
- Customer deposit:
€17,498.75
- Total deposit:
€17,498.75
- Amount of credit:
€52,496.25
- Total amount payable:
€79,869.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%