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Car Loan Sweden
Free, 100% digital car loan comparison
Save money on your new car with lower interest rates
Instant answers from up to 39 Swedish lenders
We recommend applying to more than one car loan provider to improve your chances. It’s 100% non-binding – and if you’re approved and accept the offer, you still have 14 day cancellation right.
Recommended
Amount
SEK 5.000 – 90.000
(≈ USD 500 – 9.300)
Term
12-72 months
Interest rate
20%
Verified Company
Borrow without credit check from UC
Payment on the same day
Example: A loan of SEK 30,000 at 20% nominal fixed interest, SEK 300 arrangement fee, SEK 30 monthly administration fee with a repayment period of 60 months gives an effective interest rate of a total of 25.03%. Arrangement fee is paid with the first monthly payment. This gives a total of SEK 49,957.85 to be repaid in 60 installments of SEK 832.64.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 5.000 – 800.000
(≈ USD 500 – 83.000)
Term
12-240 months
Interest rate
4,95 – 23%
Example: Annuity loan 12 years, amount 400,000 SEK, variable interest rate 7.99%, arrangement cost 400 SEK, avi fee 20 SEK, gives an effective interest rate of 8.41%. Total amount to be repaid 626,457 SEK, divided into 144 repayments, gives a monthly cost of 4,348 SEK. Repayment period 1-20 years. Maximum interest rate is 23.00%. Interest rate range between: 4.95% – 23.00%. Updated 2025-03-01
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 10.000 – 600.000
(≈ USD 1.000 – 63.000)
Term
12-180 months
Interest rate
6,23 % – 27,80 %.
Verified Company
You will receive an offer immediately
Collect small loans and credits
Example: The credit interest rate is 23.00%. The annual fee is 0 SEK. When using a credit of 10,000 SEK with repayment through 12 monthly payments of 941 SEK, the effective interest rate is 25.59%. The total amount to be repaid is 11,292 SEK. The example is calculated in March 2025 and the interest rate is variable.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 5.000 – 800.000
(≈ USD 500 – 83.000)
Term
12-240 months
Interest rate
4,95% – 23%
Example: Annuity loan 12 years, amount 400,000 SEK, variable interest rate 7.99%, arrangement cost 400 SEK, avi fee 20 SEK, gives an effective interest rate of 8.41%. Total amount to be repaid 626,457 SEK, divided into 144 repayments, gives a monthly cost of 4,348 SEK. Repayment period 1-20 years. Maximum interest rate is 23.00%. Interest rate range between: 4.95% – 23.00%. Updated 2025-03-01
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 10.000 – 150.000
(≈ USD 1.000 – 15.800)
Term
24-144 months
Interest rate
22,95 %
Example:*Annuity loan 5 years, effective annual interest rate 26.5%. A loan of SEK 60,000 costs SEK 1,709/month (60 installments), a total of SEK 42,821 incl. SEK 199 in arrangement fee and SEK 19 in avia fees. 22.95% nominal interest. Variable interest rate. Banky collaborates with Nordiska Kreditmarknadsaktiebolaget. Updated 2025-02-28.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 10.000 – 800.000
(≈ USD 1.000 – 83.000)
Term
12-144 months
Interest rate
4,95 %-23 %
Example: Annuity loan 12 years. Effective annual interest rate 9.63%. A loan of SEK 200,000 then costs SEK 2,302/month (144 installments), i.e. a total of SEK 331,495. No start-up/termination fee. 9.23% nominal interest rate (variable interest rate, set individually based on your circumstances). The application will be sent to the lenders that best match your profile, updated 2025-01-09.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 1.000 – 20.000
(≈ USD 105 – 2.000)
Term
12-36 months
Interest rate
22 %
Example: Borrow SEK 15,000 for 24 months. Total repayment SEK 18,847, or SEK 785 per month. Annual fixed interest rate 22%. Effective annual interest rate 28%, Set-up fee SEK 350. Total cancellation fees SEK 59.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 2.000 – 200.000
(≈ USD 210 – 21.000)
Term
4-19 months
Interest rate
23 %
Example: A credit of SEK 14,000 at 23.00% interest with a repayment period of ten months (with ten repayments of SEK 2,542, SEK 1,889, SEK 1,860, SEK 1,832, SEK 1,803, SEK 1,775, SEK 1,746, SEK 1,718, SEK 1,689 and SEK 1,661) and SEK 588 in arrangement fee, SEK 1,780 in Minimum to pay amount and SEK 600 in avi fees gives an effective interest of a total of 78.26%. The total amount to repay is SEK 18,517.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 5.000 – 800.000
(≈ USD 500 – 84.000)
Term
12-240 months
Interest rate
4,9 – 22,95 %
Example: A credit of SEK 14,000 at 23.00% interest with a repayment period of ten months (with ten repayments of SEK 2,542, SEK 1,889, SEK 1,860, SEK 1,832, SEK 1,803, SEK 1,775, SEK 1,746, SEK 1,718, SEK 1,689 and SEK 1,661) and SEK 588 in arrangement fee, SEK 1,780 in Minimum to pay amount and SEK 600 in avi fees gives an effective interest of a total of 78.26%. The total amount to repay is SEK 18,517.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Amount
SEK 1.000 – 30.000
(≈ USD 105 – 3.000)
Term
8-180 months
Interest rate
23 %
Example: Utilized credit of SEK 30,000 for 12 months, total repayment of SEK 35,645 (average SEK 2,970 per month). Effective annual interest rate: 39.31%. Account credit with variable nominal annual interest of 20% plus the reference interest rate currently 23%. Fees: Set-up fee SEK 395. Withdrawal fee SEK 195. Monthly administrative fee: SEK 99. The loan example assumes a withdrawal with a fee, an set-up fee and 12 monthly administrative fees.
Borrowing costs money.
If you are unable to repay your debt on time, you risk getting a payment default. This can make it harder to rent a home, sign contracts, or obtain new loans. For support, contact the municipal budget and debt counselling service. You can find contact information at konsumentverket.se.
Car loans in Sweden offer a structured financial solution for individuals looking to purchase a new or used vehicle without needing immediate full payment. These loans provide the flexibility to spread the cost of the vehicle over a period, making car ownership more accessible and manageable.
It is crucial for potential borrowers to understand the various types of car loans available, along with their terms, interest rates, and repayment options. Making an informed decision can help secure a loan that aligns with one’s financial situation and car ownership goals, ensuring a smooth and beneficial borrowing experience.
What are the requirements for a car loan
To qualify for a car loan in Sweden, potential borrowers must meet specific criteria set by lenders, which are designed to assess their ability to repay the loan. These requirements vary between lenders but generally focus on the applicant’s financial stability and creditworthiness. Understanding these prerequisites is crucial for anyone considering a car loan, as meeting them is a key step towards loan approval.
Lenders typically examine factors such as income, employment status, credit history, and debt-to-income ratio. Additionally, the loan terms might vary depending on whether the car is new or used, as well as the borrower’s existing relationship with the lender. Being aware of these requirements can help applicants prepare their application and increase their chances of obtaining favorable loan terms.
List of Requirements:
- Valid identification
- Proof of income
- Employment status
- Credit history
- Debt-to-income ratio
- Down payment (if applicable)
- Vehicle information
- Proof of insurance
- Residency status
How to apply for a car loan
Applying for a car loan in Sweden involves a systematic process that enables borrowers to finance their vehicle purchase efficiently. Potential borrowers should start by evaluating their financial status and determining the type of vehicle they intend to buy, as this will influence the loan terms and requirements. It’s crucial to research and compare different lenders to find the best loan options, considering factors like interest rates, loan terms, and any additional fees.
Once a suitable lender is chosen, the application process typically involves submitting personal and financial information, along with details about the vehicle. Lenders will review the application, conduct a credit check, and assess the borrower’s financial stability. After approval, the loan terms are presented, and upon agreement, the funds are disbursed, enabling the purchase of the car.
Step-by-Step Application Process:
- Evaluate financial status
- Select a vehicle
- Research lenders
- Compare loan offers
- Submit application
- Provide necessary documents
- Await approval
- Review loan terms
- Agree to terms
- Receive funds
Completing the application process for a car loan in Sweden is a milestone toward purchasing your desired vehicle. It’s essential to thoroughly understand the loan terms and ensure the repayment plan aligns with your financial capabilities, ensuring a smooth and manageable loan experience.
Downpayment Explained
In Sweden, the typical downpayment for a car loan ranges from 10% to 20% of the vehicle’s purchase price, although this can vary based on the lender’s policies and the borrower’s credit profile. This upfront payment reduces the total amount financed through the loan, influencing the monthly repayment amounts and the total interest paid over the term of the loan. A substantial downpayment can result in more favorable loan conditions, such as reduced interest rates and a shorter repayment period.
The requirement for a downpayment serves as a risk mitigation measure for lenders and demonstrates the borrower’s commitment to the investment. For borrowers, contributing a larger downpayment can lead to long-term savings on interest and potentially lower monthly payments, enhancing the overall affordability of the car loan.
Understanding the significance of the downpayment is key for prospective car buyers, as it plays a crucial role in the financial planning and decision-making process. It impacts not only the initial cost associated with purchasing the vehicle but also the long-term financial commitment and cost-effectiveness of the loan.
Car Loan Example
Let’s take a look at an example of a car loan in Sweden to illustrate how various factors such as loan amount, interest rate, and loan term interact to determine the monthly payment and total cost of the loan.
| Parameter | Details |
|---|---|
| Loan Amount | 210,000 SEK |
| Loan Type | Secured Car Loan |
| Interest Rate | 4.5% per annum |
| Loan Term | 5 years (60 months) |
| Monthly Payment | Approximately 3,913 SEK |
| Total Interest Paid | 24,780 SEK |
| Total Amount Repaid | 234,780 SEK |
FAQ
Frequently Asked Questions
In Sweden, the downpayment for a car typically ranges from 10% to 20% of the vehicle’s purchase price. The exact amount can vary depending on the lender and the borrower’s financial profile.
A secured car loan often offers lower interest rates since the vehicle serves as collateral. However, unsecured loans might be preferable for those who do not wish to risk their car. Comparing different loans to find one with favorable terms and rates is essential.
Generally, shorter loan terms mean higher monthly payments but lower total interest costs, while longer terms spread out the payments but increase the total interest paid over the life of the loan. Balancing monthly affordability with overall cost is key when deciding on a loan term.
