Hire Purchase (HP) representative example
Based on a cash price of €119,910 with a €11,991 deposit total, borrowing €107,919 at a representative APR of 9.30% and the following:
- 1 monthly payments of:
€2,234.99
- Fixed rate of interest per annum:
8.90%
- First monthly payment:
€2,309.99
- Optional final payment:
€2,309.99
- Cash price:
€119,910.00
- Customer deposit:
€11,991.00
- Total deposit:
€11,991.00
- Amount of credit:
€107,919.00
- Total amount payable:
€146,240.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%