Personal > Loans > Hire Purchase for Cars/Motorcycles > Hire Purchase for Used Car

Purpose: Acquisition of Used Car.
Maximum Facility Amount: € 40.000
Minimum Customer Contribution: 10% of the purchase price.
Maximum Repayment period: Six (6) years.
Maximum Age of the car: Five (5) years.
Applies to: Permanent residents aged 18-65 years old.
Currency: Euro
Hire Purchase Charges: Fixed rate for the entire facility period according to the level of the customer contribution as follows:

Contribution Fixed Interest Rate Annual Percentage Rate of Charge (APRC) Estimated Monthly Instalment Total Payment Amount
10% - 19.99% 6,45% 7,15% €293,14 €17.756,46
20% - 39.99% 5,95% 6,61% €289,64 €17.546,60
Above 40% 5,45% 6,08% €286,17 €17.338,28

TheAPRChasbeencalculated on 07/09/17 for the acquisition of a used car, with hire purchase amount €15.000, repayment period 5 years and with initial bank fees (arrangement, documentation and stamps duty).

Arrangement& Documentation Fees: 1% on loan amount (The fees can be included on the facility amount)
PenaltyFees for early repayment: None

Securities

  • At least one (1) personal guarantee
  • Debtor’s Life Insurance assigned to the Bank, upon the Bank’s request.
  • Full Comprehensive Car Insurance assigned to the Bank

Notes

  • The facility is granted based on a HIRE PURCHASE AGREEMENT.
  • The approval of car hire purchase is subject to USB Bank obtaining satisfactory guarantees/securities.
  • Terms & conditions apply.
  • The approval or rejection of any application is under the absolute discretion of the Bank.
  • The Bank reserves the right to withdraw or amend the product at any time.

For more information about the product, terms & conditions, you can refer to any USB Bank Branch, or Customer Teleservice Center