Hire Purchase (HP) representative example
Based on a cash price of €67,565 with a €16,891 deposit total, borrowing €50,674 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,001.01
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,076.01
- Cash price:
€67,565.00
- Customer deposit:
€16,891.25
- Total deposit:
€16,891.25
- Amount of credit:
€50,673.75
- Total amount payable:
€77,101.85
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%