Hire Purchase (HP) representative example
Based on a cash price of €94,950 with a €23,738 deposit total, borrowing €71,213 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,415.14
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€1,490.14
- Cash price:
€94,950.00
- Customer deposit:
€23,737.50
- Total deposit:
€23,737.50
- Amount of credit:
€71,212.50
- Total amount payable:
€108,795.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%