Hire Purchase (HP) representative example
Based on a cash price of €16,950 with a €1,695 deposit total, borrowing €15,255 at a representative APR of 9.50% and the following:
- 58 monthly payments of:
€314.82
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€389.82
- Cash price:
€16,950.00
- Customer deposit:
€1,695.00
- Total deposit:
€1,695.00
- Amount of credit:
€15,255.00
- Total amount payable:
€20,734.20
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.50%