Hire Purchase (HP) representative example
Based on a cash price of €87,495 with a €21,874 deposit total, borrowing €65,621 at a representative APR of 8.60% and the following:
- 58 monthly payments of:
€1,336.85
- Fixed rate of interest per annum:
8.20%
- Optional final payment:
€1,411.85
- Cash price:
€87,495.00
- Customer deposit:
€21,873.75
- Total deposit:
€21,873.75
- Amount of credit:
€65,621.25
- Total amount payable:
€102,234.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.60%