Hire Purchase (HP) representative example
Based on a cash price of €79,950 with a €19,988 deposit total, borrowing €59,963 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,191.58
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€1,266.58
- Cash price:
€79,950.00
- Customer deposit:
€19,987.50
- Total deposit:
€19,987.50
- Amount of credit:
€59,962.50
- Total amount payable:
€91,632.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%