Hire Purchase (HP) representative example
Based on a cash price of €75,950 with a €18,988 deposit total, borrowing €56,963 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€1,167.30
- Fixed rate of interest per annum:
8.45%
- Optional final payment:
€1,242.30
- Cash price:
€75,950.00
- Customer deposit:
€18,987.50
- Total deposit:
€18,987.50
- Amount of credit:
€56,962.50
- Total amount payable:
€89,175.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.90%