Hire Purchase (HP) representative example
Based on a cash price of €81,258 with a €20,315 deposit total, borrowing €60,944 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,203.88
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,278.88
- Cash price:
€81,258.00
- Customer deposit:
€20,314.50
- Total deposit:
€20,314.50
- Amount of credit:
€60,943.50
- Total amount payable:
€92,697.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%