Hire Purchase (HP) representative example
Based on a cash price of €57,190 with a €5,719 deposit total, borrowing €51,471 at a representative APR of 9.40% and the following:
- 1 monthly payments of:
€1,065.96
- Fixed rate of interest per annum:
8.90%
- First monthly payment:
€1,140.96
- Optional final payment:
€1,140.96
- Cash price:
€57,190.00
- Customer deposit:
€5,719.00
- Total deposit:
€5,719.00
- Amount of credit:
€51,471.00
- Total amount payable:
€69,826.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.40%