Hire Purchase (HP) representative example
Based on a cash price of €76,975 with a €19,244 deposit total, borrowing €57,731 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,140.43
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,215.43
- Cash price:
€76,975.00
- Customer deposit:
€19,243.75
- Total deposit:
€19,243.75
- Amount of credit:
€57,731.25
- Total amount payable:
€87,819.55
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%