Hire Purchase (HP) representative example
Based on a cash price of €30,595 with a €3,060 deposit total, borrowing €27,536 at a representative APR of 7.30% and the following:
- 58 monthly payments of:
€543.94
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€618.94
- Cash price:
€30,595.00
- Customer deposit:
€3,059.50
- Total deposit:
€3,059.50
- Amount of credit:
€27,535.50
- Total amount payable:
€35,845.90
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
7.30%