Hire Purchase (HP) representative example
Based on a cash price of €71,950 with a €17,988 deposit total, borrowing €53,963 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,065.98
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,140.98
- Cash price:
€71,950.00
- Customer deposit:
€17,987.50
- Total deposit:
€17,987.50
- Amount of credit:
€53,962.50
- Total amount payable:
€82,096.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%