Hire Purchase (HP) representative example
Based on a cash price of €27,050 with a €2,705 deposit total, borrowing €24,345 at a representative APR of 9.30% and the following:
- 58 monthly payments of:
€502.41
- Fixed rate of interest per annum:
8.75%
- Optional final payment:
€577.41
- Cash price:
€27,050.00
- Customer deposit:
€2,705.00
- Total deposit:
€2,705.00
- Amount of credit:
€24,345.00
- Total amount payable:
€32,999.60
- Option to purchase fee:
€75.00
- Documentation fee:
€75.00
- Annual mileage limit:
10000 kilometers
- APR:
9.30%