Hire Purchase (HP) representative example
Based on a cash price of €58,950 with a €5,895 deposit total, borrowing €53,055 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€1,094.91
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€1,169.91
- Cash price:
€58,950.00
- Customer deposit:
€5,895.00
- Total deposit:
€5,895.00
- Amount of credit:
€53,055.00
- Total amount payable:
€71,739.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.20%