Personal > Loans > Hire Purchase for Cars/Motorcycles > Hire Purchase for New Motorcycle

Purpose: Acquisition of a New Motorcycle.
Maximum Facility Amount: € 8.000
Minimum Customer Contribution: 15% of the purchase price
Maximum Repayment period: Four (4) years
Applies to: Permanent residents of Cyprus aged 18-65 years old
Currency: Euro
Hire Purchase Charges: Fixed Rate for the entire facility period according to the level of the customer’s contribution as follows:

Contribution Fixed Interest Rate Annual Percentage Rate of Charge (APRC) Estimated Monthly Instalment Total Payment Amount
15% - 39.99% 6,75% 7,57% €190,64 €9.238,38
40% - 49.99% 6,25% 7,03% €188,80 €9.149,83
Above 50% 5,75% 6,50% €186,96 €9.061,80

The APRC has been calculated on 07/09/17, for the acquisition of a new motorcycle, with hire purchase amount of €8.000, repayment period 4 years and with initial bank fees (arrangement, documentation and stamps duty).

Arrangement& Documentation Fees: 1% on facility 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 Motorcycle 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