Hire Purchase (HP) representative example
Based on a cash price of €119,950 with a €29,988 deposit total, borrowing €89,963 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,777.12
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,852.12
- Cash price:
€119,950.00
- Customer deposit:
€29,987.50
- Total deposit:
€29,987.50
- Amount of credit:
€89,962.50
- Total amount payable:
€136,764.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- APR:
7.20%