Hire Purchase (HP) representative example
Based on a cash price of €27,500 with a €2,750 deposit total, borrowing €24,750 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€510.77
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€585.77
- Cash price:
€27,500.00
- Customer deposit:
€2,750.00
- Total deposit:
€2,750.00
- Amount of credit:
€24,750.00
- Total amount payable:
€33,546.20
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%