Hire Purchase (HP) representative example
Based on a cash price of €39,950 with a €3,995 deposit total, borrowing €35,955 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€742.01
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€817.01
- Cash price:
€39,950.00
- Customer deposit:
€3,995.00
- Total deposit:
€3,995.00
- Amount of credit:
€35,955.00
- Total amount payable:
€48,665.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%