Hire Purchase (HP) representative example
Based on a cash price of €104,595 with a €26,149 deposit total, borrowing €78,446 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,558.89
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€1,633.89
- Cash price:
€104,595.00
- Customer deposit:
€26,148.75
- Total deposit:
€26,148.75
- Amount of credit:
€78,446.25
- Total amount payable:
€119,832.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%