Hire Purchase (HP) representative example
Based on a cash price of €27,950 with a €2,795 deposit total, borrowing €25,155 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€519.13
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€594.13
- Cash price:
€27,950.00
- Customer deposit:
€2,795.00
- Total deposit:
€2,795.00
- Amount of credit:
€25,155.00
- Total amount payable:
€34,092.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%