Hire Purchase (HP) representative example
Based on a cash price of €32,750 with a €3,275 deposit total, borrowing €29,475 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€608.28
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€683.28
- Cash price:
€32,750.00
- Customer deposit:
€3,275.00
- Total deposit:
€3,275.00
- Amount of credit:
€29,475.00
- Total amount payable:
€39,921.80
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%