Hire Purchase (HP) representative example
Based on a cash price of €83,995 with a €20,999 deposit total, borrowing €62,996 at a representative APR of 8.30% and the following:
- 58 monthly payments of:
€1,275.83
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€1,350.83
- Cash price:
€83,995.00
- Customer deposit:
€20,998.75
- Total deposit:
€20,998.75
- Amount of credit:
€62,996.25
- Total amount payable:
€97,698.55
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.30%