Hire Purchase (HP) representative example
Based on a cash price of €37,495 with a €3,750 deposit total, borrowing €33,746 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€696.41
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€771.41
- Cash price:
€37,495.00
- Customer deposit:
€3,749.50
- Total deposit:
€3,749.50
- Amount of credit:
€33,745.50
- Total amount payable:
€45,684.10
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%