Hire Purchase (HP) representative example
Based on a cash price of €69,950 with a €17,488 deposit total, borrowing €52,463 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€1,082.68
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€1,157.68
- Cash price:
€69,950.00
- Customer deposit:
€17,487.50
- Total deposit:
€17,487.50
- Amount of credit:
€52,462.50
- Total amount payable:
€82,598.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.20%