Hire Purchase (HP) representative example
Based on a cash price of €64,950 with a €16,238 deposit total, borrowing €48,713 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€962.27
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,037.27
- Cash price:
€64,950.00
- Customer deposit:
€16,237.50
- Total deposit:
€16,237.50
- Amount of credit:
€48,712.50
- Total amount payable:
€74,123.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%