Hire Purchase (HP) representative example
Based on a cash price of €146,815 with a €36,704 deposit total, borrowing €110,111 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€2,175.14
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€2,250.14
- Cash price:
€146,815.00
- Customer deposit:
€36,703.75
- Total deposit:
€36,703.75
- Amount of credit:
€110,111.25
- Total amount payable:
€167,362.15
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%