Hire Purchase (HP) representative example
Based on a cash price of €72,950 with a €18,238 deposit total, borrowing €54,713 at a representative APR of 8.90% and the following:
- 58 monthly payments of:
€1,121.19
- Fixed rate of interest per annum:
8.45%
- Optional final payment:
€1,196.19
- Cash price:
€72,950.00
- Customer deposit:
€18,237.50
- Total deposit:
€18,237.50
- Amount of credit:
€54,712.50
- Total amount payable:
€85,658.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.90%