Hire Purchase (HP) representative example
Based on a cash price of €88,950 with a €22,238 deposit total, borrowing €66,713 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,325.71
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€1,400.71
- Cash price:
€88,950.00
- Customer deposit:
€22,237.50
- Total deposit:
€22,237.50
- Amount of credit:
€66,712.50
- Total amount payable:
€101,930.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%