Updated 14.7.2026
Car loan 2026 – Compare the best car purchase financings
A car loan is a consumer loan for buying a car. Often more affordable than dealer financing – especially if you have good credit. Compare the best car loans in seconds.
- Loan amount 3,000 – 60,000 €
- More affordable than dealer financing
- Unsecured or secured
- Also for used cars
Loan calculator
Try how much the loan costs per month. The result is indicative.
The calculation is indicative and based on a fixed annuity loan. The final rate and costs are determined based on a personal credit decision.
What is a car loan?
A car loan is a consumer loan used to buy a car. In Finland, two main types exist:
- Unsecured car loan – an ordinary consumer loan with the funds used for a car purchase. The car remains the buyer's free property.
- Secured car loan (financing) – the car serves as collateral for the loan. Typically offered through dealers (e.g. Santander, OP Rahoitus).
Unsecured car loan vs. dealer financing
Most Finns finance a car through the dealer, but this is often more expensive than an unsecured consumer loan. Reasons:
- Dealer financing's effective annual rate is typically 6–9 %, while a consumer loan can get to 5.9 % – 8 %
- Dealer financing usually requires comprehensive insurance (kasko) for the whole loan period – extra cost
- Dealer financing's installments include opening fees, monthly fees, and risk premiums – often hidden in the deal
Compare loans and save hundreds of euros
Free, no-commitment comparison – results in seconds.
How much does a car loan cost?
Example: 20,000 € car loan, repayment 5 years
| Unsecured consumer loan | Dealer financing | |
|---|---|---|
| Effective annual rate | ~7 % | ~8.5 % |
| Monthly installment | 396 €/m | 410 €/m |
| Total interest cost | ~3,800 € | ~4,600 € |
| 5-year cost | ~23,800 € | ~24,600 € |
Savings: ~800 € over 5 years by choosing the consumer loan option.
How to compare car loan offers?
- Decide whether you want unsecured or secured financing.
- Compare the effective annual rate – not the nominal rate.
- Check the requirement for kasko insurance – often forced by the dealer.
- Check the prepayment terms – ensure free early repayment.
- Compare lenders: Morrow Bank, Bluestep Bank, Bondora, etc.
Used or new car?
A car loan suits both used and new cars. Things to consider:
- Used car: the loan amount is usually smaller, but check the car's condition carefully – an old car costs more in repairs.
- New car: the loan amount is larger, but the car has a warranty period and is reliable.
How much car loan can I get?
Car loan amount typically 3,000 – 60,000 €. The maximum amount depends on:
- Your income (typically max 30–40 % of annual net income)
- Your credit information
- Existing loans
- Whether the car serves as collateral (larger amounts possible)
Frequently asked questions
What is the best way to finance a car?
An unsecured consumer loan is often cheaper than dealer financing – especially if you have good credit. Compare the effective annual rate, not just the monthly installment.
How much car loan can I get?
Car loan amounts in Finland are typically 3,000 – 60,000 €. The maximum amount depends on income, credit information and existing loans.
Do I need full kasko insurance with a car loan?
With an unsecured car loan no – the car is freely yours. With dealer financing usually yes – the lender requires kasko for the loan period.
Should I take a car loan for a used car?
Yes, a car loan works for both used and new cars. Inspect a used car carefully – an old car can cost more in repairs.
Are interest on a car loan tax-deductible?
No, consumer loan interest is no longer tax-deductible in Finland (the deduction was removed in 2023).
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