Hire Purchase (HP) representative example
Based on a cash price of €73,950 with a €18,488 deposit total, borrowing €55,463 at a representative APR of 8.30% and the following:
- 58 monthly payments of:
€1,123.25
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€1,198.25
- Cash price:
€73,950.00
- Customer deposit:
€18,487.50
- Total deposit:
€18,487.50
- Amount of credit:
€55,462.50
- Total amount payable:
€86,032.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.30%