Hire Purchase (HP) representative example
Based on a cash price of €132,995 with a €33,249 deposit total, borrowing €99,746 at a representative APR of 8.30% and the following:
- 58 monthly payments of:
€2,020.11
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€2,095.11
- Cash price:
€132,995.00
- Customer deposit:
€33,248.75
- Total deposit:
€33,248.75
- Amount of credit:
€99,746.25
- Total amount payable:
€154,605.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.30%