Hire Purchase (HP) representative example
Based on a cash price of €252,840 with a €63,210 deposit total, borrowing €189,630 at a representative APR of 7.40% and the following:
- 58 monthly payments of:
€3,768.34
- Fixed rate of interest per annum:
7.15%
- Optional final payment:
€3,843.34
- Cash price:
€252,840.00
- Customer deposit:
€63,210.00
- Total deposit:
€63,210.00
- Amount of credit:
€189,630.00
- Total amount payable:
€289,460.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.40%