Hire purchase

With Nordea Finance’s hire purchase you can get a new or a used car from a car dealership – and the car is yours after you have made your fixed monthly payments.

Do I need to make a down payment?”

Usually yes. In general, the down payment is 10-20 % of the car’s cash price. It is possible to cover the entire down payment or a part of it by trading in your old car. 

What about security?

The car itself serves as security for the finance so there is no need for separate security.

How long is the agreement period?”

Hire purchase agreements can be made for 1–6 years, depending on your needs.

At which point will the car be mine?”

Hire purchase finance is tied to the car financed under the agreement. As the borrower, you are liable for the debt until it has been paid off in full. The ownership of the asset will be transferred to you on the expiry of the hire purchase agreement.

Can I trade in the car in the middle of the agreement period?”

You can trade in the car at the same dealership as long as you pay off the remainder of your hire purchase agreement when closing the deal.

Can I take the car abroad before my hire purchase agreement has been paid off?”

Sure. All you need is written permission to take your vehicle abroad, which you can easily order here.

Where can I make a hire purchase agreement?”

At any car dealership which has partnered with Nordea Finance. Find the closest one to you here.

Hire purchase

Hire purchase

General information about hire purchase

  • Apply for hire purchase finance directly at the car dealership
  • Down payment is 10-20 % of the car’s price
  • Credit decision is granted at the car dealership at the time of purchasing
  • Car serves as security
  • Fixed monthly payments
  • Agreement period 1–6 years 
Tariff

Hire purchase

General information about hire purchase

  • Apply for hire purchase finance directly at the car dealership
  • Down payment is 10-20 % of the car’s price
  • Credit decision is granted at the car dealership at the time of purchasing
  • Car serves as security
  • Fixed monthly payments
  • Agreement period 1–6 years 

Hire purchase's Tariff

Valid as of 1 Dec 2019

Hire purchase's Tariff
Change to repayment plan (max. 20 € per year)5 €
Assignment of an agreement200 €

Registration changes (registration costs subject to Traficom’s currently valid tariff are added to the price)

30 €
Copy of receipts or agreements30 €
Itemisation of payments, interest statement; in accordance with section 4a of the Finnish Debt Collection Act, one itemisation per year free of charge, subsequent itemisations30 €
Driving instruction permit30 €

Export registration

urgent, same-day processing

30 €

55 €

Power of attorney regarding cash settlement to the insurance company50 €
Investigations/alterations agreed on separately, hourly rate in euros, min. 75 €75 €
Exceptional re-allocation of a payment75 €
Reminder letter 5 €

The prices are exempt from value added tax. Deviations may be made from this tariff by virtue of the agreement terms and conditions. In addition, any external expenses incurred by Nordea Finance Finland from a measure are charged.

Call our customer service

If you have any questions, you can reach our Customer Service

0200 86210

Open Mon–Fri 9-16.30 (local network charge/mobile call charge)