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Updated 23. June 2026
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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.
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Finding a way to reduce monthly transport costs often leads foreign residents to consider a car refinance in Sweden to secure a lower interest rate or extend the repayment duration. For expats, the decision to refinance is rarely just about the interest rate; it is a strategic move to align debt with their Swedish tax residency and long-term financial stability in the Nordics. Swedish lenders look closely at how long you have been registered with the Tax Agency (Skatteverket) and whether your income is stable enough to justify a new credit agreement.
Many expats initially finance their vehicles through dealership credit or high-interest personal loans during their first year in the country. Once you have established a solid credit history and a permanent residence permit, you may find that you qualify for significantly better terms. This information is intended for educational purposes and does not constitute financial advice. Approval is never guaranteed, as each lender performs an individual assessment of your debt-to-income ratio and residence status.
Tax Residency and Creditworthiness for Expats
In Sweden, your credit score is heavily influenced by your reported income from the previous tax year. For those who recently moved, this can be a hurdle because the UC (Upplysningscentralen) report might show zero or low Swedish income for the first 12 to 18 months. Lenders prioritize applicants who have a proven track record of paying Swedish taxes. If you have recently seen a salary increase or moved from a probationary to a permanent employment contract (tillsvidareanställning), you are in a much stronger position to negotiate.
Refinancing essentially involves taking out a new loan to pay off your existing vehicle debt. If your current debt is tied to a high-interest unsecured product, you might want to compare personal loan rates here to see if a general bank loan offers a lower APR than your current automotive dealer finance. Swedish banks often view car debt as more manageable when it is consolidated into a single, transparent monthly payment that matches your current Swedish krona income.
Eligibility Criteria for Refinancing
Lenders in Sweden have strict requirements regarding the age of the vehicle and the remaining debt amount. Generally, the car cannot be older than 12 to 15 years by the end of the new loan term. Additionally, the debt must typically be over 50,000 SEK to make the administrative transition worthwhile for the bank. The following table outlines the standard documentation expats need to prepare for the application process.
| Requirement | Description |
|---|---|
| Swedish Personal ID | A valid Personnummer is mandatory for all credit checks. |
| Income Proof | Last 3 months of payslips or a certified employment contract. |
| Vehicle Details | Registration number (registreringsnummer) and current mileage. |
| Residence Status | Proof of permanent right to reside or a long-term work permit. |
| Current Loan Statement | The remaining balance and payout figure from your current lender. |
The Impact of ‘Restvärde’ on Your Strategy
Many Swedish car loans are structured with a ‘restvärde’ or residual value, which is a large balloon payment at the end of the term. If you find yourself approaching this date without the cash to cover the lump sum, refinancing the remaining balance into a standard amortizing loan is a common solution. This prevents you from having to sell the car prematurely or take on expensive emergency credit. Some residents find that financing options for vehicles are more flexible once they have spent at least two years in the Swedish social security system.
The Refinancing Process in Sweden
The transition starts with requesting a ‘lösenoffert’ from your current lender. This document states exactly how much is required to close the account today. Once you have this figure, you can apply for a new loan through a broker or directly with a bank. If approved, the new lender often pays the old debt directly, ensuring the collateral (the car) is correctly transferred or that the previous lien is cleared. This process is highly digitized in Sweden, often requiring BankID for signing and verification.
If you are struggling with multiple high-interest debts alongside your car payment, it might be more effective to refinance several debts together into one lower-interest monthly installment. This can improve your credit score over time by reducing the number of open credit lines reported to UC. Keep in mind that while a longer term reduces monthly costs, it increases the total interest paid over the life of the loan.
Avoiding Common Expat Pitfalls
One frequent mistake is applying for credit too soon after a change of address or job. Swedish credit models reward stability. If you have just moved to a new apartment, wait a few months until your new address is firmly registered in the SPAR system. Similarly, avoid making multiple credit inquiries in a short window, as each ‘UC check’ can slightly lower your score for 12 months. Using a comparison service that performs only one credit check for multiple offers is a safer way to explore car refinance in Sweden.
Can I refinance a car with a temporary work permit?
Yes, but many Swedish lenders require the loan term to end before your current permit expires. Having a permanent residence permit significantly increases your chances of approval.
Is there a fee for paying off my old car loan early?
If you have a variable interest rate, there is usually no fee. For fixed-rate loans, the bank may charge 'ränteskillnadsersättning' (interest compensation) to cover their lost earnings.
What is the minimum income required for car refinancing?
Most lenders require a minimum annual income of 120,000 SEK to 180,000 SEK, though requirements vary depending on your other financial obligations and household size.
Can I include my car insurance in the refinance?
Generally, no. Refinancing covers the capital debt of the vehicle. Insurance is a separate monthly or annual expense paid to an insurance provider.
Last updated: 23. June 2026