Hire Purchase (HP) representative example
Based on a cash price of €105,995 with a €26,499 deposit total, borrowing €79,496 at a representative APR of 8.30% and the following:
- 58 monthly payments of:
€1,610.00
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€1,685.00
- Cash price:
€105,995.00
- Customer deposit:
€26,498.75
- Total deposit:
€26,498.75
- Amount of credit:
€79,496.25
- Total amount payable:
€123,248.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.30%