Hire Purchase (HP) representative example
Based on a cash price of €81,950 with a €20,488 deposit total, borrowing €61,463 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€1,221.39
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€1,296.39
- Cash price:
€81,950.00
- Customer deposit:
€20,487.50
- Total deposit:
€20,487.50
- Amount of credit:
€61,462.50
- Total amount payable:
€93,920.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.50%