Hire Purchase (HP) representative example
Based on a cash price of €84,950 with a €21,238 deposit total, borrowing €63,713 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,266.10
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€1,341.10
- Cash price:
€84,950.00
- Customer deposit:
€21,237.50
- Total deposit:
€21,237.50
- Amount of credit:
€63,712.50
- Total amount payable:
€97,353.50
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%