Hire Purchase (HP) representative example
Based on a cash price of €135,440 with a €33,860 deposit total, borrowing €101,580 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€2,006.62
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€2,081.62
- Cash price:
€135,440.00
- Customer deposit:
€33,860.00
- Total deposit:
€33,860.00
- Amount of credit:
€101,580.00
- Total amount payable:
€154,407.20
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%