There is a wide range of possibilities when you’re looking to finance your car through a loan, and there are different types of loans as well. There are mainly two types of loans that you pay an interest rate on: unsecured loans, and loans where the car serves as a security for the loan. Unsecured loans usually have a higher interest rate, but does not require a down payment. If you use the car as a security for the loan, a down payment of at least 20 % is needed, but the interest rate will be lower. ¬†You can find out more about what types of loans there are on the page Car Loans, however here you will find more information on the different financial institutes you can turn to for financing your vehicle, and what interest rates they offer today. Please note that this concerns actors on the Swedish market.

Banks and financial institutes

  • Ikano bank
    The interest rate with Ikano bank lies at 4,95 %, and the effective rate at 5,06 %. Here you are able to loan between 40.000 and 350.000 SEK, however loans that go above 200.000 SEK require two applicants. No down payment is needed, and the time span for repaying the loan is three to twelve years. Keep in mind that you are not able to loan more than the car is worth according to Ikano’s evaluation service. This is an unsecured loan which does not have any requirements as to where the car has been purchased from, nor to how old it is. Thus, you can be granted a loan even if the car hasn’t been purchased from a dealership.
  • Nordea
    Nordea offers an interest rate betwen 4,5 and 5,0 %, and the effective rate lies between 5,36 and 5,88 %. You are allowed to loan between 100.000 and 900.000 SEK, however a down payment of at least 20 % is required.
  • Swedbank
    Here you are able to loan up to 900.000 SEK as well, and the smallest possible amount is 30.000 SEK. The interest rate lies at 4,2 % and the effective rent between 4,93 and 5,53 %. With this loan you are also required to make a down payment of at least 20 %.
  • ICA bank
    With ICA you are offered an effective rate of 5,79 %, and as with Ikano bank, the car can be purchased wherever you wish without a required down payment. You can loan between 20.000 and 350.000 SEK, and no arrangement or notification fees apply.

If you are in need of a loan, we suggest you turn to one of the services that offer you several loan offers after checking your credit history just once. This allows you to compare alternatives without the setbacks of going through several checks.


As an alternative to the more traditional financial institutes, several car dealerships are able to offer you a loan as well. In their article, Swedish news site SvD talks of how new cars often can be bought with favorable loans, and how you sometimes can come across offers where the dealership offers better loan conditions, for example for an outgoing model. This makes for the opportunity to get a hold of a loan with a better interest rate, however make sure that the terms do not change in the future. Different payment plans are often offered as well where the loan will be payed back either over a longer period of time, making for a larger total cost of the loan, or over a shorter period, where a larger amount is required each month, however the total cost of the loan will be less.


Please not that all of the above concerns the Swedish market, in terms of where the information has been gathered from and to where it applies.