Hire Purchase (HP) representative example
Based on a cash price of €55,950 with a €5,595 deposit total, borrowing €50,355 at a representative APR of 9.20% and the following:
- 58 monthly payments of:
€1,039.19
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€1,114.19
- Cash price:
€55,950.00
- Customer deposit:
€5,595.00
- Total deposit:
€5,595.00
- Amount of credit:
€50,355.00
- Total amount payable:
€68,096.40
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.20%