Hire Purchase (HP) representative example
Based on a cash price of €93,995 with a €23,499 deposit total, borrowing €70,496 at a representative APR of 8.30% and the following:
- 58 monthly payments of:
€1,427.72
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€1,502.72
- Cash price:
€93,995.00
- Customer deposit:
€23,498.75
- Total deposit:
€23,498.75
- Amount of credit:
€70,496.25
- Total amount payable:
€109,311.95
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.30%