Hire Purchase (HP) representative example
Based on a cash price of €94,995 with a €23,749 deposit total, borrowing €71,246 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,407.40
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,482.40
- Cash price:
€94,995.00
- Customer deposit:
€23,748.75
- Total deposit:
€23,748.75
- Amount of credit:
€71,246.25
- Total amount payable:
€108,342.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%