Hire Purchase (HP) representative example
Based on a cash price of €23,950 with a €2,395 deposit total, borrowing €21,555 at a representative APR of 9.40% and the following:
- 58 monthly payments of:
€444.84
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€519.84
- Cash price:
€23,950.00
- Customer deposit:
€2,395.00
- Total deposit:
€2,395.00
- Amount of credit:
€21,555.00
- Total amount payable:
€29,235.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.40%