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Updated 23. June 2026
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Enkelfinans
Representative example: Calculation example: 12-year annuity loan, amount SEK 400,000, variable interest rate 7.99 per cent, arrangement fee SEK 400, statement fee SEK 20, resulting in an effective interest rate of 8.41 per cent. Total amount to be repaid: SEK 626,457, spread over 144 instalments, giving a monthly cost of SEK 4,348. Repayment period: 1–20 years. Maximum interest rate: 22.00 per cent. Interest rate range: 4.50–22.00 per cent. Updated 15 August 2025.
Saldo Bank Kontokredit
Representative example: If a credit facility of 5,000 SEK is drawn down at a nominal fixed interest rate of 39.5% for 12 months, the total amount to be repaid is 6,672.89 SEK (556.07 SEK per month), corresponding to an effective annual interest rate of: 74.4%.
Viaconto
Representative example: If you borrow 8,500 kr with a repayment period of 17 months, a nominal, uncommitted annual interest rate of 23 per cent applies. The annual percentage rate (APR) you will pay is 89.29 per cent. The total amount you will pay after 17 months and 17 instalments is 17,000 SEK. See an example of the repayment schedule here. To find out more, click here.
Lendo SE
Representative example: Calculation example: 12-year annuity loan. Effective annual interest rate 9.63 per cent. A loan of SEK 200,000 would therefore cost SEK 2,302 per month (144 instalments), i.e. a total of SEK 331,495. No arrangement or administration fees. 9.23% nominal interest rate (variable rate, set individually based on your circumstances). Your application will be sent to the lenders that best match your profile, updated 9 January 2025.
Ekonomen
Representative example: A 12-year annuity loan of 400,000 SEK, with a variable interest rate of 7.99 per cent, an arrangement fee of 400 SEK and a statement fee of 20 SEK, results in an effective interest rate of 8.41 per cent. Total amount to be repaid: SEK 626,457, spread over 144 instalments, giving a monthly cost of SEK 4,348. Repayment period: 1–20 years. The maximum interest rate is 23.00 per cent. Interest rate range: 4.95% – 23.00%. Updated 1 March 2025
Loanstep
Representative example: A loan of 25,588 kronor taken out on 6 May 2025 at a variable interest rate of 19.95 per cent, with a repayment period of 72 months, entails 72 instalments of approximately 665 kronor, a 588 kronor arrangement fee and a monthly administration fee of 49 kronor. This results in an effective interest rate of 26.96 per cent, and the total amount to be repaid is 48,440.33 kronor.
Marginalen Bank
Representative example: For a loan amount of 100,000 SEK with a variable annual interest rate of 7.98 per cent, an 8-year term (repayment period), an arrangement fee of SEK 0 and a statement fee of SEK 10 (when paying by direct debit), the annual percentage rate (APR) is 8.49 per cent. The standard monthly repayment is SEK 1,423 and the total amount payable is SEK 137,250. This example was calculated on 23 March 2023, assumes that the interest rate and fees remain unchanged throughout the entire credit period. Amounts are rounded up to the nearest krona. The interest rate is variable and may range from 5.45% to 19.32%, which means that the annual percentage rate (APR) may range from 5.63% to 22.07%. The annual percentage rate (APR) is calculated in accordance with the Swedish Consumer Agency’s guidelines.
Lånekoll
Representative example: Calculation example: For an annuity loan of 300,000 SEK with an arrangement fee of 0 SEK, a repayment term of 15 years, a variable interest rate of 7.0 per cent, an effective interest rate of 7.23%, this results in (180) monthly payments of SEK 2,696, with a total repayment amount of SEK 485,367.
Finlo.se
Representative example: A 12-year annuity loan of 400,000 SEK, with a variable interest rate of 7.99 per cent, an arrangement fee of 400 SEK and a statement fee of 20 SEK, results in an effective interest rate of 8.41 per cent. Total amount to be repaid: SEK 626,457, spread over 144 instalments, giving a monthly cost of SEK 4,348. Repayment period: 1–20 years. The maximum interest rate is 23.00 per cent. Interest rate range: 4.95% – 23.00%. Updated 1 March 2025
Credifi
Representative example: A loan of 20,000 kr at an interest rate of 22 per cent with a repayment period of fifteen months (comprising fifteen instalments of 2,957 kr, 1,880 kr, 1,854 kr, 1,829 kr, SEK 1,803, SEK 1,777, SEK 1,752, SEK 1,726, SEK 1,700, SEK 1,674, SEK 1,649, SEK 1,623, SEK 1,597, 1,572 SEK and 1,546 SEK) plus a 588 SEK arrangement fee, a 2,435 SEK service fee for the instalment plan and 855 SEK in statement fees result in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 SEK. The term of the credit and the associated costs may change if the credit limit is increased.
Coop Bank
Representative example: At a variable interest rate of 7.35 per cent, the effective annual interest rate is 7.60 per cent for an annuity loan of 155,000 SEK with a 10-year repayment term, comprising a total of 120 instalments, an arrangement fee of 0 kr and a statement fee of 0 kr with direct debit. Assuming the interest rate and statement fee remain unchanged, the total amount to be repaid will be 219,693 kr and the monthly cost will be 1,838 kr.
Lumify
Representative example: A loan of 20,000 kr at an interest rate of 22 per cent with a repayment period of fifteen months (comprising fifteen instalments of 2,957 kr, 1,880 kr, 1,854 kr, 1,829 kr, SEK 1,803, SEK 1,777, SEK 1,752, SEK 1,726, SEK 1,700, SEK 1,674, SEK 1,649, SEK 1,623, SEK 1,597, 1,572 SEK and 1,546 SEK) plus a 588 SEK arrangement fee, a 2,435 SEK service fee for the instalment plan and 855 SEK in statement fees result in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 SEK. The term of the credit and the associated costs may change if the credit limit is increased.
Brixo
Representative example: The loan has a variable nominal annual interest rate of 19.95 per cent, an arrangement fee of 475 SEK and a monthly administration fee of 25 SEK. An example loan of 75,000 kr, repaid at 1,648 kr per month over 90 months, has an annual percentage rate (APR) of 22.8 per cent. This means the total cost of the loan is 73,320 kr.
Klicklån
Representative example: A loan of 45,000 kronor at a fixed interest rate of 24.24 per cent with a repayment period of 84 months, comprising 84 instalments of 1,135 kronor and a set-up fee of 695 kronor (which is added to the loan) and a 19 Swedish kronor administration fee, results in a total effective interest rate of 28.73%. The total amount to be repaid is 96,894 Swedish kronor.
Flexkontot
Representative example: All other product features remain unchanged, as do the requirements we place on our customers. New representative example: The loan has a nominal variable annual interest rate of 21.95 per cent, an arrangement fee of 575 SEK and a monthly administration fee of 39 SEK. An example loan of 20,000 kr, repaid at 1,964 kr per month over 12 months, has an annual percentage rate (APR) of 36.4 per cent. This means a total cost of the loan of 3,568 kr.
Fairlo
Representative example: With a monthly repayment of 2,881 SEK for 12 months, the effective interest rate is 30.6 per cent and the total amount to be repaid is 34,566 SEK.
Daypay
Representative example: Borrow 15,000 SEK for 24 months. Total amount to be repaid: 18,847 SEK, i.e. 785 SEK per month. Fixed annual interest rate: 22 per cent. Annual percentage rate (APR): 28 per cent. Arrangement fee: 350 SEK. Total statement fees: 59 kr.
Thorn
Representative example: A loan of 90,000 kronor at a fixed interest rate of 21.60 per cent with a repayment period of 84 months, comprising 84 instalments of 2,100 kronor and a 595-kronor arrangement fee (which is added to the loan) and a 19 kronor administration fee, results in a total effective interest rate of 24.59 per cent. The total amount to be repaid is 177,992 kronor.
Tomly
Representative example: A loan of 20,000 kr at an interest rate of 22 per cent with a repayment period of fifteen months (comprising fifteen instalments of 2,957 kr, 1,880 kr, 1,854 kr, 1,829 kr, SEK 1,803, SEK 1,777, SEK 1,752, SEK 1,726, SEK 1,700, SEK 1,674, SEK 1,649, SEK 1,623, SEK 1,597, 1,572 SEK and 1,546 SEK) plus a 588 SEK arrangement fee, a 2,435 SEK service fee for the instalment plan and 855 SEK in statement fees result in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 SEK. The term of the credit and the associated costs may change if the credit limit is increased.
Merax
Representative example: The loan has a nominal variable annual interest rate of 21.95 per cent, an arrangement fee of 575 SEK and a monthly administration fee of 39 SEK. A sample loan of 20,000 SEK, repaid at 1,964 SEK per month over 12 months, has an annual percentage rate (APR) of 36.4 per cent. This means the total cost of the loan is 3,568 SEK.
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Securing competitive car loans in Sweden depends heavily on how a bank perceives your long-term commitment to the country. For expats, the application process is less about your credit history in your home country and more about your Swedish tax residency status and the stability of your local income. Lenders use your 10-digit personnummer to pull data from Skatteverket and credit bureaus like UC, looking for at least one full year of reported tax history to establish reliability.
While some institutions may consider applicants with only a few months of employment history, the interest rates offered often reflect the perceived risk of a borrower who has not yet established deep financial roots. If you are still in the early stages of your relocation, you might find that unsecured financing for newcomers serves as a bridge while you build the necessary credit profile for a dedicated vehicle loan. This content is for informational purposes and does not constitute financial advice; approval is never guaranteed and depends on individual circumstances.
The Impact of Tax Residency on Your Application
Swedish lenders prioritize borrowers who have a clear, documented history of paying taxes in Sweden. When you apply for a car loan, the bank typically checks your previous year’s declared income. If you arrived mid-year, your declared income might look artificially low, which can impact the maximum amount you are permitted to borrow. In these cases, providing your recent payslips and an employment contract can help prove your actual repayment capacity.
Lenders also look at the type of residence permit you hold. Those on permanent residency or EU citizens generally face fewer hurdles than those on temporary work permits that expire within two years. If your permit is tied to a specific employer, the bank may limit the loan term to match the duration of your current visa to mitigate the risk of you leaving the country before the debt is settled.
Secured vs. Unsecured Vehicle Financing
In the Swedish market, you generally choose between a traditional car loan (billån) where the vehicle serves as collateral, and a private loan (privatlån). A secured car loan usually requires a minimum down payment of 20% by law. This down payment cannot be financed by the same lender as part of the car loan, meaning you must have the cash available or seek alternative borrowing options in Sweden to cover the upfront cost.
Unsecured loans do not require a down payment and allow you to buy a car from a private seller rather than an authorized dealer. However, because there is no collateral, the interest rates are typically higher. Expats often prefer the flexibility of unsecured loans when buying used vehicles from platforms like Blocket, as traditional billån often come with restrictions on the age of the car at the end of the loan term.
| Feature | Secured Car Loan (Billån) | Unsecured Personal Loan |
|---|---|---|
| Down Payment | Minimum 20% required | 0% required | Collateral | The car itself | None | Seller Requirement | Authorized dealers only | Dealers or private sellers | Typical Term | 1 to 7 years | 1 to 15 years |
Understanding the UC Credit Score
Every time you apply for credit in Sweden, a formal inquiry is registered with Upplysningscentralen (UC). Having too many inquiries within a twelve-month period can negatively affect your credit score, making you appear desperate for credit. For expats, it is vital to avoid applying at multiple banks simultaneously. Instead, use comparison tools that perform only one credit check to see offers from multiple lenders.
If you already have significant existing debt, it could hinder your ability to get a new vehicle. Some residents choose a loan to combine existing debts before applying for car financing to improve their debt-to-income ratio. A cleaner financial profile usually results in lower interest rates and better terms from major Swedish banks.
Essential Documentation for Expats
To streamline your application, ensure you have your digital ID (BankID) ready, as this is the primary way to sign documents and verify your identity in Sweden. Lenders will verify your civil status, housing costs, and any existing dependents. If you are moving from another Nordic country, some lenders might show more flexibility, but generally, the focus remains on your Swedish financial footprint.
- Valid Swedish ID or passport
- Proof of employment (tillsvidareanställning is preferred)
- The last three months of payslips
- A Swedish bank account for the autogiro payments
- Details of the vehicle if opting for a secured loan
The Role of the Co-Applicant
If your credit history is short or your income does not meet the lender’s threshold, adding a co-applicant can significantly increase your chances of approval. If your partner has a more established credit history or a stable Swedish income, their inclusion on the application provides the bank with additional security. Both parties become equally responsible for the debt, which often leads to more favorable interest rates than applying alone.
Before committing to a high-interest dealership offer, it is worth investigating if you can lower your monthly car payments later once your Swedish credit score has improved. High-interest rates at the start of your expat journey do not have to be permanent if you manage your finances diligently and build a strong history of on-time payments for car loans in Sweden.
Can I get a car loan in Sweden without a permanent job?
It is difficult but not impossible. Lenders prefer a 'tillsvidareanställning' (permanent contract). If you are on a fixed-term contract, the loan term usually cannot exceed the length of your remaining contract.
Is a 20% down payment mandatory?
For a secured car loan (billån), Swedish law requires a 20% down payment. If you cannot afford this, you must apply for an unsecured personal loan instead.
How does the car's age affect the loan?
For secured loans, most banks require that the car is not older than 12-15 years by the time the loan is fully repaid.
Do I need a Swedish driving license to apply?
While not always a strict requirement for the loan itself, it is necessary for insurance, and some lenders may request it as part of their risk assessment.
Last updated: 23. June 2026