Hire Purchase (HP) representative example
Based on a cash price of €263,225 with a €65,806 deposit total, borrowing €197,419 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€3,899.82
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€3,974.82
- Cash price:
€263,225.00
- Customer deposit:
€65,806.25
- Total deposit:
€65,806.25
- Amount of credit:
€197,418.75
- Total amount payable:
€299,945.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%