Hire Purchase (HP) representative example
Based on a cash price of €76,950 with a €19,238 deposit total, borrowing €57,713 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,140.06
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,215.06
- Cash price:
€76,950.00
- Customer deposit:
€19,237.50
- Total deposit:
€19,237.50
- Amount of credit:
€57,712.50
- Total amount payable:
€87,791.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%