Hire Purchase (HP) representative example
Based on a cash price of €62,745 with a €15,686 deposit total, borrowing €47,059 at a representative APR of 8.40% and the following:
- 58 monthly payments of:
€953.06
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€1,028.06
- Cash price:
€62,745.00
- Customer deposit:
€15,686.25
- Total deposit:
€15,686.25
- Amount of credit:
€47,058.75
- Total amount payable:
€73,019.85
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.40%