Hire Purchase (HP) representative example
Based on a cash price of €17,886 with a €1,789 deposit total, borrowing €16,097 at a representative APR of 7.50% and the following:
- 58 monthly payments of:
€317.99
- Fixed rate of interest per annum:
6.90%
- Optional final payment:
€392.99
- Cash price:
€17,886.00
- Customer deposit:
€1,788.60
- Total deposit:
€1,788.60
- Amount of credit:
€16,097.40
- Total amount payable:
€21,018.00
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
7.50%