Hire Purchase (HP) representative example
Based on a cash price of €96,995 with a €24,249 deposit total, borrowing €72,746 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,437.03
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,512.03
- Cash price:
€96,995.00
- Customer deposit:
€24,248.75
- Total deposit:
€24,248.75
- Amount of credit:
€72,746.25
- Total amount payable:
€110,620.55
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%