Hire Purchase (HP) representative example
Based on a cash price of €69,690 with a €6,969 deposit total, borrowing €62,721 at a representative APR of 9.40% and the following:
- 1 monthly payments of:
€1,298.94
- Fixed rate of interest per annum:
8.90%
- First monthly payment:
€1,373.94
- Optional final payment:
€1,373.94
- Cash price:
€69,690.00
- Customer deposit:
€6,969.00
- Total deposit:
€6,969.00
- Amount of credit:
€62,721.00
- Total amount payable:
€85,055.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.40%