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.
We use the cost per thousand to calculate the repayments, generally we use the APR, typical example is below:
A typical €15,000 4 year fixed interest rate hire purchase agreement, would 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.
Allied Irish Banks, p.l.c. is an agent of AIB Insurance Services Limited in relation to provision of general insurance products. AIB Car Insurance is exclusively underwritten by AXA Insurance dac. AIB Insurance Services Limited and Allied Irish Banks, p.l.c. are regulated by the Central Bank of Ireland.
Allied Irish Banks, p.l.c. trading as AIB Finance & Leasing provides Car Finance by way of Hire Purchase. Allied Irish Banks, p.l.c. trading as AIB Finance & Leasing are regulated by the Central Bank of Ireland.