Hire Purchase (HP) representative example
Based on a cash price of €34,995 with a €3,500 deposit total, borrowing €31,496 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€649.98
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€724.98
- Cash price:
€34,995.00
- Customer deposit:
€3,499.50
- Total deposit:
€3,499.50
- Amount of credit:
€31,495.50
- Total amount payable:
€42,648.30
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%