Hire Purchase (HP) representative example
Based on a cash price of €114,995 with a €28,749 deposit total, borrowing €86,246 at a representative APR of 8.30% and the following:
- 58 monthly payments of:
€1,746.70
- Fixed rate of interest per annum:
7.95%
- Optional final payment:
€1,821.70
- Cash price:
€114,995.00
- Customer deposit:
€28,748.75
- Total deposit:
€28,748.75
- Amount of credit:
€86,246.25
- Total amount payable:
€133,700.75
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
8.30%