Hire Purchase (HP) representative example
Based on a cash price of €118,000 with a €11,800 deposit total, borrowing €106,200 at a representative APR of 7.20% and the following:
- 58 monthly payments of:
€2,097.88
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€2,172.88
- Cash price:
€118,000.00
- Customer deposit:
€11,800.00
- Total deposit:
€11,800.00
- Amount of credit:
€106,200.00
- Total amount payable:
€137,822.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
7.20%