Wondering what would be the best way for you to finance a car?

There are many different ways to finance a car depending on your circumstances, the car you’re dreaming of and your budget.

Nordea’s car finance options include a conventional hire purchase agreement and private leasing in partnership with car dealerships as well as secured and unsecured consumer credit.

Choosing the right finance solution depends on your circumstances and lifestyle. Below, you can see several examples of how you could finance a car that costs 18,000 euros 

Please note that the calculations are not fully comparable, as the down payment and opening fee may vary. The current prices and terms and conditions will always be confirmed when you apply for the loan. 

Choose hire purchase when you want to own a car

You can buy a car directly from a dealership with monthly payments that suit your budget. Whether you want a new or a used car, the only collateral you need for the loan is the vehicle itself.

With hire purchase from Nordea Finance, you can buy a new or a used car from a dealership by making fixed monthly payments.

Example of the costs of buying a car through hire purchase:

  • A new Skoda Fabia with winter tyres
  • Cash price of the car EUR 17,835.16
  • Down payment EUR 2,000
  • Financed amount EUR 16,055.16 (incl. opening fee)
  • Opening fee EUR 220
  • Processing fee EUR 12 per month
  • Interest rate 3.9 %
  • Price of loan EUR 20,417.20
  • APR 6.29 % (based on the Finnish Consumer Protection Act)
  • The financing is granted by Nordea Finance Finland Ltd

Read more about hire purchase

Choose leasing when you only want to pay for your use of a car

Car leasing means having your own car but without all the headaches of owning it. With our Autoleasing service, you can get a private leasing solution for a set monthly price and order the vehicle of your choice easily online. Autoleasing offers you a simple way to drive.

A leased car enables you to enjoy driving without the hassle of owning it, as the servicing, inspections and winter tyres of your car are included in the monthly price. You can also incorporate car insurance into your lease agreement. With the fixed payments, you always know how much your monthly costs will be so there are no surprises. You also don’t need to worry about depreciation.

We currently offer a wide variety of vehicles to choose from – ranging from family cars to SUVs. Our selection also includes plug-in hybrids and electric cars. Explore all the vehicles our Autoleasing service has to offer. 

If you can’t find the right vehicle for you, please contact us for a quote.

Explore our vehicle selection

Choose secured consumer credit when you want a long repayment period

It’s often possible to negotiate a longer repayment period with your bank when you can provide assets, such as a house or a flat, as collateral for your loan. This gives you flexibility with your repayment plan and often brings the interest rate down.

Example of the costs of buying a car through secured consumer credit:

  • Cash price of the car EUR 18,000
  • Financed amount EUR 18,000
  • Opening fee EUR 300 (deducted from the loan capital)
  • Processing fee EUR 2.30 per month
  • Interest rate 3.01 %
  • Price of loan EUR 19,866.30
  • APR 4.1 % (based on the Finnish Consumer Protection Act)
  • The current interest rates and fees will be confirmed when you apply for the loan and they may change. The costs set out in the example above are indicative. 
  • Secured consumer credit is granted by Nordea Bank Abp 

Read more about secured consumer credit

When you buy from a private seller

If you are buying a car from a private seller, you can apply for unsecured financing from either Nordea Finance or Nordea.

You can borrow up to 50,000 euros from Nordea or 20,000 euros from Nordea Finance without having to provide any assets as collateral. We will draw up a flexible repayment schedule for you to pay off this one-off loan in monthly payments that suit your budget.

Read more about Nordea’s FlexiCredit

Read more about Nordea Finance’s Joustorahoitus

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