Hire Purchase (HP) representative example
Based on a cash price of €35,250 with a €3,525 deposit total, borrowing €31,725 at a representative APR of 9.50% and the following:
- 58 monthly payments of:
€657.02
- Fixed rate of interest per annum:
8.90%
- Optional final payment:
€732.02
- Cash price:
€35,250.00
- Customer deposit:
€3,525.00
- Total deposit:
€3,525.00
- Amount of credit:
€31,725.00
- Total amount payable:
€43,096.20
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.50%