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 €1,500 one year loan with a variable interest rate of 8.65% and 8.95% APR(Annual Percentage Rate), where the APR does not vary during the term, would have monthly repayments of €130.48 and the total cost of credit (the total amount repayable less the amount of the loan) would be €65.76.
A typical €15,000 four year variable interest rate Car loan, would have monthly repayments of €369.26 Interest Rate 8.65%, APR 8.95%. 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.
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. provides Car Finance by way of Personal Loans. Allied Irish Banks, p.l.c. is regulated by the Central Bank of Ireland.