Hire Purchase (HP) representative example
Based on a cash price of €14,950 with a €1,495 deposit total, borrowing €13,455 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€265.79
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€340.79
- Cash price:
€14,950.00
- Customer deposit:
€1,495.00
- Total deposit:
€1,495.00
- Amount of credit:
€13,455.00
- Total amount payable:
€17,592.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
7.50%