Hire Purchase (HP) representative example
Based on a cash price of €66,945 with a €16,736 deposit total, borrowing €50,209 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€1,036.17
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€1,111.17
- Cash price:
€66,945.00
- Customer deposit:
€16,736.25
- Total deposit:
€16,736.25
- Amount of credit:
€50,208.75
- Total amount payable:
€79,056.45
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.20%