Hire Purchase (HP) representative example
Based on a cash price of €134,995 with a €33,749 deposit total, borrowing €101,246 at a representative APR of 8.30% and the following:
- 58 monthly payments of:
€2,050.49
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€2,125.49
- Cash price:
€134,995.00
- Customer deposit:
€33,748.75
- Total deposit:
€33,748.75
- Amount of credit:
€101,246.25
- Total amount payable:
€156,928.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.30%