Hire Purchase (HP) representative example
Based on a cash price of €63,995 with a €15,999 deposit total, borrowing €47,996 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€990.51
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€1,065.51
- Cash price:
€63,995.00
- Customer deposit:
€15,998.75
- Total deposit:
€15,998.75
- Amount of credit:
€47,996.25
- Total amount payable:
€75,579.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.20%