Hire Purchase (HP) representative example
Based on a cash price of €112,950 with a €28,238 deposit total, borrowing €84,713 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,673.42
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,748.42
- Cash price:
€112,950.00
- Customer deposit:
€28,237.50
- Total deposit:
€28,237.50
- Amount of credit:
€84,712.50
- Total amount payable:
€128,792.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%