Hire Purchase (HP) representative example
Based on a cash price of €92,945 with a €23,236 deposit total, borrowing €69,709 at a representative APR of 8.30% and the following:
- 58 monthly payments of:
€1,411.77
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€1,486.77
- Cash price:
€92,945.00
- Customer deposit:
€23,236.25
- Total deposit:
€23,236.25
- Amount of credit:
€69,708.75
- Total amount payable:
€108,092.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.30%