·
Updated 23. June 2026
·
Ekomni
Representative example: Amount granted: 4,500 SEK, repayment period: 6 months, fixed nominal annual interest rate: 22.00%, arrangement fee: 499 SEK (deducted from the approved credit amount on disbursement), statement fee (monthly administration fee) SEK 69, effective interest rate 154.36%, monthly cost SEK 798.85, total amount to be repaid including all fees: 5,207.12 kr.
Enkelfinans
Representative example: Calculation example: 12-year annuity loan, amount SEK 400,000, variable interest rate 7.99%, arrangement fee SEK 400, statement fee SEK 20, resulting in an effective interest rate of 8.41%. 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%. Interest rate range: 4.50–22.00%. Updated 15 August 2025.
Saldo Bank Kontokredit
Representative example: If the credit facility of 5,000 SEK is utilised at a fixed nominal interest rate of 39.5% for 12 months, the total amount to be repaid is 6,672.89 SEK (556.07 SEK per month), which corresponds 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, non-binding annual interest rate of 23% will apply. The annual percentage rate (APR) you will pay is 89.29%. The total amount you will pay after 17 months and 17 instalments is 17,000 kr. 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%. A loan of 200,000 kr would then cost 2,302 kr per month (144 instalments), i.e. a total of 331,495 kr. 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%, an arrangement fee of 400 SEK and a statement fee of 20 SEK, results in an effective interest rate of 8.41%. 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: 23.00%. 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 49 kronor monthly administration fee. This results in an effective interest rate of 26.96 per cent, and the total amount to be repaid is 48,440.33 kronor.
Lånekoll
Representative example: Calculation example: For an annuity loan of 300,000 kr with an arrangement fee of 0 kr, a repayment term of 15 years, a variable interest rate of 7.0%, an effective interest rate of 7.23%, this results in (180) monthly payments of 2,696 kr, with a total repayment amount of 485,367 kr.
Finlo.se
Representative example: A 12-year annuity loan of 400,000 SEK, with a variable interest rate of 7.99%, an arrangement fee of 400 SEK and a statement fee of 20 SEK, results in an effective interest rate of 8.41%. 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: 23.00%. 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, 1,803 kr, 1,777 kr, 1,752 kr, 1,726 kr, 1,700 kr, 1,674 kr, 1,649 kr, 1,623 kr, 1,597 kr, 1,572 kr and 1,546 kr) plus a set-up fee of 588 kr, a service fee of 2,435 kr for the instalment plan and statement fees of 855 kr, resulting in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 kr. 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%, the effective annual interest rate is 7.60% for an annuity loan of 155,000 SEK with a 10-year repayment term, comprising a total of 120 instalments, an arrangement fee of SEK 0 and a statement fee of SEK 0 with direct debit. Assuming the interest rate and statement fee remain unchanged, the total amount to be repaid will be SEK 219,693 and the monthly cost will be SEK 1,838.
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, 1,803 kr, 1,777 kr, 1,752 kr, 1,726 kr, 1,700 kr, 1,674 kr, 1,649 kr, 1,623 kr, 1,597 kr, 1,572 kr and 1,546 kr) plus a set-up fee of 588 kr, a service fee of 2,435 kr for the instalment plan and statement fees of 855 kr, resulting in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 kr. 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%, an arrangement fee of 475 kr and a monthly administration fee of 25 kr. 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%. 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%, with a repayment period of 84 months, comprising 84 instalments of 1,135 kronor and a 695 kronor arrangement fee (which is added to the loan) and a 19 kronor administration fee, results in a total effective interest rate of 28.73%. The total amount to be repaid is 96,894 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%, an arrangement fee of 575 kr and a monthly administration fee of 39 kr. 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%. This means a total cost of the loan of 3,568 kr.
Fairlo
Representative example: With a monthly repayment of 2,881 kr for 12 months, the effective interest rate is 30.6% and the total amount to be repaid is 34,566 kr.
Daypay
Representative example: Borrow 15,000 kr for 24 months. Total amount to be repaid: 18,847 kr, i.e. 785 kr per month. Fixed annual interest rate: 22%. Annual percentage rate (APR): 28%. Arrangement fee: 350 kr. Total statement fees: 59 kr.
Thorn
Representative example: A loan of 90,000 kronor at a fixed interest rate of 21.60%, 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%. 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, 1,803 kr, 1,777 kr, 1,752 kr, 1,726 kr, 1,700 kr, 1,674 kr, 1,649 kr, 1,623 kr, 1,597 kr, 1,572 kr and 1,546 kr) plus a set-up fee of 588 kr, a service fee of 2,435 kr for the instalment plan and statement fees of 855 kr, resulting in a total effective interest rate of 66.01%. The total amount to be repaid is 26,939 kr. 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%, 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%. This means the total cost of the loan is 3,568 kr.
LoanExpat may receive compensation from partners when you click or apply through links on this page. This does not affect our editorial content.
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