Hire Purchase (HP) representative example
Based on a cash price of €116,760 with a €29,190 deposit total, borrowing €87,570 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,729.86
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,804.86
- Cash price:
€116,760.00
- Customer deposit:
€29,190.00
- Total deposit:
€29,190.00
- Amount of credit:
€87,570.00
- Total amount payable:
€133,131.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%