Hire Purchase (HP) representative example
Based on a cash price of €43,950 with a €4,395 deposit total, borrowing €39,555 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€816.31
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€891.31
- Cash price:
€43,950.00
- Customer deposit:
€4,395.00
- Total deposit:
€4,395.00
- Amount of credit:
€39,555.00
- Total amount payable:
€53,523.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%