Hire Purchase (HP) representative example
Based on a cash price of €102,295 with a €25,574 deposit total, borrowing €76,721 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,524.61
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€1,599.61
- Cash price:
€102,295.00
- Customer deposit:
€25,573.75
- Total deposit:
€25,573.75
- Amount of credit:
€76,721.25
- Total amount payable:
€117,200.35
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%