Hire Purchase (HP) representative example
Based on a cash price of €71,475 with a €7,148 deposit total, borrowing €64,328 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,270.73
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,345.73
- Cash price:
€71,475.00
- Customer deposit:
€7,147.50
- Total deposit:
€7,147.50
- Amount of credit:
€64,327.50
- Total amount payable:
€83,541.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
7.20%