Hire Purchase (HP) representative example
Based on a cash price of €60,995 with a €15,249 deposit total, borrowing €45,746 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€944.08
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€1,019.08
- Cash price:
€60,995.00
- Customer deposit:
€15,248.75
- Total deposit:
€15,248.75
- Amount of credit:
€45,746.25
- Total amount payable:
€72,043.55
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
9.20%