Hire Purchase (HP) representative example
Based on a cash price of €82,445 with a €20,611 deposit total, borrowing €61,834 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€1,267.12
- Fixed rate of interest per annum:
8.45%
- Optional final payment:
€1,342.12
- Cash price:
€82,445.00
- Customer deposit:
€20,611.25
- Total deposit:
€20,611.25
- Amount of credit:
€61,833.75
- Total amount payable:
€96,788.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.90%