Hire Purchase (HP) representative example
Based on a cash price of €88,750 with a €8,875 deposit total, borrowing €79,875 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€1,577.85
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€1,652.85
- Cash price:
€88,750.00
- Customer deposit:
€8,875.00
- Total deposit:
€8,875.00
- Amount of credit:
€79,875.00
- Total amount payable:
€103,696.00
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
7.20%