Hire Purchase (HP) representative example
Based on a cash price of €32,995 with a €3,300 deposit total, borrowing €29,696 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€612.83
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€687.83
- Cash price:
€32,995.00
- Customer deposit:
€3,299.50
- Total deposit:
€3,299.50
- Amount of credit:
€29,695.50
- Total amount payable:
€40,219.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%