Hire Purchase (HP) representative example
Based on a cash price of €110,750 with a €11,075 deposit total, borrowing €99,675 at a representative APR of 9.30% and the following:
- 1 monthly payments of:
€2,064.25
- Fixed rate of interest per annum:
8.90%
- First monthly payment:
€2,139.25
- Optional final payment:
€2,139.25
- Cash price:
€110,750.00
- Customer deposit:
€11,075.00
- Total deposit:
€11,075.00
- Amount of credit:
€99,675.00
- Total amount payable:
€135,080.00
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%