Car Loan – Auto Financing Without Collateral
*The interest rate is variable and is set individually. For an annuity loan of SEK 0 with a 12 year maturity, nominal interest rate NaN% and SEK 0 in set-up / avia fee, the effective interest rate will be 0 %. Total amount to pay: 0 SEK. Monthly cost: 0 SEK distributed on 144 payment occasions. Sambla works with 40 lenders. Your application will be sent to the lenders that best match your profile. Repayment period 1-20 years. The maximum interest rate is 33.99%. Interest rate range between: 5.20% - 33.99% (Updated September 2024).
Considering a new car or dissatisfied with your current one due to high interest rates? Look no further!
Compare Auto Loans in Sweden for a Lower Interest Rate
Compare car loans with us for lower interest rates. Whether it’s for a new or used car, we assist you in securing auto loans up to SEK 600,000. Apply directly in the form for the best rates or explore the benefits of the loans we broker.
Benefits of Choosing Us for Your Car Loan:
- Lower interest rates mean you pay less for your car
- Loan up to SEK 600 000.
- Choose from over 40 lenders
- Purchase from dealers or private sellers
- Only one credit report with UC
- Application is free, with no obligation to commit
- Smooth process, with funds in your account shortly after approval
How Unsecured Car Loans in Sweden Work
An unsecured loan means that you don’t need to offer anything as security, like your car. It’s just like a regular personal loan. You use the money to buy your car, but it’s not tied to the loan. This makes it easier because you can sell the car anytime. Also, it’s often cheaper.
A Guide to Help You Find the Best Car Loan:
- Fill in the amount you need, your preferred repayment period, and if you have other loans.
- Share personal details and if you have a co-applicant.
- Your auto financing application is sent to multiple lenders to find the best deal.
- Within 24 hours, you’ll receive offers from different lenders. Compare and choose the best one for you.
- Sign using BankID and receive the money in your account within 1–3 days.
- Use the auto financing to purchase your car from a dealer or a private seller.
If you need help during the process, please contact us.
Why Choose an Unsecured Car Loan in Sweden?
Our customers state several reasons for buying a car using an unsecured loan. Here are the most common:
- You can finance the car even if it’s purchased from another private individual.
- You have the freedom to sell the car as you wish, without the obligation to pay off the loan beforehand.
Auto Financing for a New or Used Car
When you’re at the car dealer, they might offer you a loan through their partnered lender. It’s convenient, but usually not the most budget friendly.
Before committing, take a moment to explore other lenders. We’re here to assist you with that, free of charge. You’re also free to apply without commitment. Just compare your options to find the best deal for you.
Car Loans for Buying From a Private Seller
With our car loan options, you can finance buying a used car directly from another individual, not just from dealerships. Unlike traditional car loans that are limited to dealerships, our loans are flexible.
When purchasing a used car privately, you’ll borrow money through a private loan and arrange payment terms directly with the seller.
Why Compare Car Loans?
Rather than settling for the first offer, you can let us assist you in discovering the cheapest car loan. By cheapest, we mean finding the lowest interest rate and monthly expense possible.
We’re here to aid you in comparing a new loan or decreasing the interest rate on your current one. A lowered effective interest rate translates to more money in your pocket each month. Over time, the amounts will be significant. On average, our clients save SEK 17,000. To use an example, it is equivalent to nearly a thousand liters of petrol.
How Do I Find Cheap Car Loans in Sweden?
To find cheap car loans, start by comparing offers from different lenders. You can also consider using a co-applicant if you’re buying the car together, which could lower the interest rate even more. Keep in mind that your credit score plays a big role in the loan terms you receive. Therefore, try to avoid too many credit reports and aim to have a good credit history with previous loans paid off.
Which Bank Offers the Best Car Loans?
Lenders in Sweden have varied preferences when it comes to customers, so it’s hard to say which bank loan is the most suitable for you. To avoid too many credit reports in a short period of time, it’s best to explore multiple auto financing options in one go.
To help you get the best loan, we work with over 40 banks and lenders sharing the same UC report.
What Determines the Interest Rate on a Car Loan?
The interest rate for your car loan is determined by the credit evaluation of each lender. We’ll provide you with the result of the assessment after your loan comparison.
The interest rate doesn’t change based on the car you buy – new or used, private or from a dealer. Instead, it’s based on your individual financial situation, making the loan flexible and independent of the car itself.
Get a Lower Interest Rate on Your Car Loan?
Several factors influence the interest rate offered by banks. These include your form of employment, marital status, and income.
Form of Employment
Banks prefer stable, long-term jobs when offering loans. If you’re close to finishing school or on a trial job, consider waiting before applying for a car loan.
Marital Status
Do you have a long-standing relationship or are you married? Maybe you own your home? These factors can make banks feel more secure about lending you money.
But if you’ve recently divorced and are now in need of both a home and a car, banks might view this as a higher risk and charge you a higher interest rate.
Income and Co-applicant
To be able to apply for a loan through us, you need to have a monthly income of at least SEK 8,400. The better your income, the better interest you generally get from the banks.
With a co-applicant your incomes are combined, resulting in extra security and a better interest rate and monthly cost.
Remember! Avoid involving a co-applicant with weaker finances than yours. While it might increase your total income, it could raise red flags for banks and lead to a higher interest rate compared to applying on your own.
Read more: Compare savings accounts
Other Auto Financing Options
Apart from taking an unsecured or secured auto loan, there are two other common ways of purchasing a car:
Private leasing
This option is like a long-term car rental. While it’s hassle-free since you don’t have to worry about selling the car later, private leasing can be pricey. There may also be extra charges for damages or exceeding mileage limits.
Car Loan With Residual Value
This means the lender predicts what the car will be worth at the end of the loan term. You pay off the loan gradually, aiming for the car’s value at the end. It’s a costly option with high monthly payments, as the car serves as collateral.
All things considered – we recommend you choose an unsecured car loan.
Read more: Student loans
If You Have an Existing Secured Car Loan
If you already have a secured car loan, there are some drawbacks to consider. For instance, you can’t freely sell the car until the loan is paid off. Additionally, there may be extra fees for administration and notifications. A possible solution is to swap your current loan for an unsecured car loan.
Replace Your Current Car Loan
We can assist you in combining multiple loans into one, up to SEK 600 000. By merging your car loan, credits, and other debts, you’ll get a clearer overview and a better interest rate.
Simply indicate that you want to consolidate loans and specify the amounts for old and new loans in your application. Our experienced loan officers will then help you settle your old loans, leaving you with just one to manage.
Paying Back Your Car Loan
When you apply for your loan, you and the lender choose a repayment schedule that fits your budget. You’ll make monthly payments until the loan is paid off.
Most banks provide free direct debit or e-invoice options. We suggest using them to avoid extra fees that may come with manual payments.
You have the flexibility to pay off your loan early or make additional payments whenever you want. Just reach out to your lender or our customer service, and they will assist you with the process.
Car Financing Despite Previous Payment Notices
Because our partners assess your current ability to repay, you can get a car loan despite previous payment notices. But if you can wait them out, it usually helps you get better terms.
Read more: Mortgage loans
Car Loans via Sambla – a Summary
When you apply for an unsecured auto loan, each lender sets an individual interest rate. While calculating a car loan might seem daunting, we’ve simplified it for your convenience and flexibility.
Simply complete the form, and our extensive network of over 40 partners will compete to offer you the most competitive car loan rates.
One Single UC Report
While we explore all lending options, we only conduct a single credit check with UC. Rest assured, you’ll receive the best borrowing offer with a low effective interest rate when financing your car through us.
Read more: Payday loans
Frequently Asked Questions – Car Loan
Which Loan Is Best for Buying a Car?
Secured car loans offer lower interest rates but require your car as collateral. If you can’t repay, the lender takes your car. Unsecured loans are more flexible, as you can also buy a used car from someone privately and sell it without repaying the loan at once.
What Is a Good Auto Loan Term?
Choose a loan term that fits your finances. Shorter terms mean higher monthly payments but less interest overall. Longer terms lower monthly payments but increase total costs. Find the right balance between what you can afford each month and the total amount you’ll pay in the end.
WE HELP YOU GET LOANS WITH BETTER INTEREST RATES
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