Hire Purchase (HP) representative example
Based on a cash price of €156,500 with a €39,125 deposit total, borrowing €117,375 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€2,318.63
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€2,393.63
- Cash price:
€156,500.00
- Customer deposit:
€39,125.00
- Total deposit:
€39,125.00
- Amount of credit:
€117,375.00
- Total amount payable:
€178,392.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%