Car loan – ask for competitive offers and select an inexpensive alternative

You can apply for a car loan on your own or with a co-applicant. The co-applicant could be your spouse or cohabitant partner, for example.

If possible, it is a good idea to complete the application with a co-applicant, as you will probably get even better terms for your loan. However, you will not need a guarantor.

When there is more than one applicant for a loan, you can get a bigger loan and under better terms. This is because from the bank’s viewpoint it is safer if the loan is paid back by more than one person.

The co-applicant will be just as liable for the repayments as the main applicant.

The monthly instalment of car financing depends on, among other things, the loan sum and loan period. Use our loan calculator to find a suitable level of monthly instalment for your finances. This way your monthly instalments will not put too much of a strain on your finances.

Car financing is paid back in equal instalments that include the loan repayment, interest and any other costs. The monthly instalment makes your financial planning easier, and car financing does not have a different final instalment, known as the residual payment.

When you are buying a new car in a dealership, you may be offered car financing. This means that the dealership often offers the loans against your car, the car acting as security for loan payment.

Through Sortter, you can ask for competitive tenders for unsecured car financing, meaning that you are in effect a cash customer. Once you have bought a car – whether it is new, second-hand or imported – you own the car in full. This means you do not have to worry about the last, higher instalment, called residual payment.

According to Sortter’s statistics, a typical car loan is about 8,000 euros, and a car loan is applied for more often by men than women. 70% of car financing applicants are men with an average age of about 37 years. An average car loan is 8,314 euros and the loan period 5 years and 2 months.

Get competitive tenders through Sortter for free. Fill in a loan application in the Sortter online service and soon you will receive offers from dozens of loan providers.

By default, we arrange the loan offers in order of affordability based on the annual percentage rate of interest. The annual percentage rate includes the nominal interest rate and all loan costs, such as service fees, monthly payments and account management fees.

This way you can be sure that the offer you receive really is the cheapest. Comparing loans and finding cheap car financing is quick and easy with Sortter’s online service.

Applying for a car loan is easy online.

1. Find out your suitable monthly instalment with our loan calculator.
2. Fill in the loan application carefully and click “Submit”.
3. Compare the loan alternatives.
4.  Select the car loan that is cheapest for you.
5. Accept the loan agreement.
6. Submit the necessary attachments to the bank and sign the loan agreement with your banking credentials.
7. The bank will transfer the funds to your bank account – possibly even on the same day.

You can sign your loan agreement securely with your banking credentials, after which the money for your car will be transferred to your bank account – possible even the same day.

The only way to find the cheapest car financing is by asking banks and credit companies to make you an offer.

When looking for the cheapest car loan, it is important to compare the offers made by the banks and credit companies. By sending your car loan application through the Sortter online service, you will reach dozens of loan providers and receive a clear list of the cheapest alternatives.

The car loan will be transferred quickly to your account – maybe even the same day. You will receive the money as soon as you have signed the loan agreement and submitted any necessary attachments indicating your salary or pension details.

Some banks demand that you verify your income with attachments, so it is important that you will enter your income correctly in the application form. Otherwise a bank may cancel its loan offer.

Tip! When filling in the loan application, have you payslip handy. This way you can make sure to enter the right figures in the form. Fill in the application here.

A car loan can also be used to buy a new motorcycle. When you apply for a motorcycle loan through us, you do not have to worry about loan collateral. You will get the loan amount directly to your account and you can buy the motorcycle where you like – either at a dealership or from a private owner. 

With an unsecured motorcycle loan, you are considered a cash buyer, putting you in the ‘riding seat’ to negotiate the price lower.

A typical motorcycle financing tendered for through Sortter is about €6,000, with a repayment period of two to three years. For a two-year and €6,000 motorcycle loan, the loan interest is typically 8%, and the annual percentage rate 8.3%. This puts the monthly instalment at €271.36 and the loan costs at a total of €512.73. 

Usually the loan interest is lower the higher the loan. If you have existing loans or credit, you should consider combining your loans at the same time as you apply for a motorcycle loan. This way you can reduce the costs of your other loans or credit while getting financing for your motorcycle.

Get competitive tenders for a motorcycle loan for free from Sortter. With a single application, you will receive many loans offers, from which you can pick the cheapest.

Buying a second-hand car from a private owner is often cheaper than getting a new car from a dealership. However, you should first find out who actually owns the car, about the car’s history and any collision damage. Check also that the car has been inspected and that the owner has paid the car tax.

When you select a car loan through Sortter, the money will be transferred to your account and you can the proceed to buying a car. This makes you a cash buyer, often helping you to haggle over the price.

Find out about the following at least when buying a car from a private owner:

• Current owner of the car
• Car’s usage history
• Any collisions
• Inspection year and details
• When the car tax was paid

A car loan can also be used to import a car, because you can pay for the car in cash and later also cover the costs of the car tax.

The most popular imported car makes are Mercedez-Benz, Volvo and BMW. In recent years, hybrids and electric cars, however, have become more popular in Finland. Most cars are imported into Finland from Sweden, Germany, Estonia and the Netherlands.

You can request competitive tenders through Sortter for up to 60,000 euros.