Hire Purchase (HP) representative example
Based on a cash price of €69,945 with a €6,995 deposit total, borrowing €62,951 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€1,299.12
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€1,374.12
- Cash price:
€69,945.00
- Customer deposit:
€6,994.50
- Total deposit:
€6,994.50
- Amount of credit:
€62,950.50
- Total amount payable:
€85,091.70
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.20%