Hire Purchase (HP) representative example
Based on a cash price of €65,995 with a €16,499 deposit total, borrowing €49,496 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€1,002.42
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€1,077.42
- Cash price:
€65,995.00
- Customer deposit:
€16,498.75
- Total deposit:
€16,498.75
- Amount of credit:
€49,496.25
- Total amount payable:
€76,793.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.40%