Hire Purchase (HP) representative example
Based on a cash price of €45,995 with a €4,600 deposit total, borrowing €41,396 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€854.29
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€929.29
- Cash price:
€45,995.00
- Customer deposit:
€4,599.50
- Total deposit:
€4,599.50
- Amount of credit:
€41,395.50
- Total amount payable:
€56,006.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.20%