Car Finance Regulatory Information

Important Information - Car Finance

Important Regulatory Notice

 

Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future.

 

Warning: Where Hire Purchase is availed of you will not own these goods until the final payment is made.

 

The APR (Annual Percentage Rate) for the Loan or Hire Purchase facility depends on the amount borrowed and the term of the borrowing. Terms and conditions apply. Credit facilities are subject to repayment capacity and financial status and are not available to persons under 18 years of age. Security may be required. A Documentation Fee of €63.49 applies to Hire Purchase which is payable with your first repayment and a purchase fee of €12.70 payable with your final repayment. In the case of Hire Purchase there is an additional Purchase Fee of €12.70 payable on completion.

 

A typical €15,000 four year variable interest rate Car loan, would have monthly repayments of €369.07 Interest Rate 8.65%, APR 8.94%. If the APR does not vary during the term of the loan, the total cost of credit of this loan i.e. total amount repayable less the amount of the loan, would be €2724.48. (Rates and repayments based on loan drawdown on 26/10/2016 with first repayment 11/11/2016).

 

A typical €15000 4 year fixed interest rate* Hire Purchase agreement, will have monthly repayments of €365.40 APR 8.45%. For this APR, the total cost of credit i.e. total amount repayable less the amount borrowed, would be €2539.20.

 

*Up to date information on our fixed rates can be obtained on request or AIB Internet Banking

 

  • Allied Irish Banks, p.l.c. provides Car Finance by way of Personal Loans.

  • AIB Leasing Limited trading as AIB Finance & Leasing provides Car Finance by way of Leasing.

  • Allied Irish Banks, p.l.c. and AIB Leasing Limited trading as AIB Finance & Leasing are regulated by the Central Bank of Ireland.