Hire Purchase (HP) representative example
Based on a cash price of €86,950 with a €21,738 deposit total, borrowing €65,213 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€1,336.36
- Fixed rate of interest per annum:
8.45%
- Optional final payment:
€1,411.36
- Cash price:
€86,950.00
- Customer deposit:
€21,737.50
- Total deposit:
€21,737.50
- Amount of credit:
€65,212.50
- Total amount payable:
€102,069.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.90%