Car loan – compare unsecured loans for a new or used car

A car loan via Zmarta is an unsecured loan for buying a car. The car is not pledged as security and no down payment is required, and you can use the loan for a new or used car bought from a dealer or a private seller.

You apply for an amount between SEK 5,000 and 800,000 and a repayment period of 1–15 years. The amount and repayment period you are offered depend on each lender's credit assessment, and the offers can come with different repayment periods. Zmarta is licensed by Finansinspektionen (the Swedish Financial Supervisory Authority) as a credit intermediary and arranges loans in cooperation with several banks and lenders. The application is free of charge and non-binding.

Unsecured car loan or traditional car loan?

Which one suits you depends on your situation. If you have savings for a down payment and are buying from a dealer, a traditional car loan with the car as security can give you a lower interest rate. If you want to finance the whole purchase or buy privately, an unsecured loan is the alternative. Whichever you choose, compare the effective interest rate.

How it works

1. Apply: choose amount and repayment period and fill in your details. Your application is sent to several banks and lenders, with one credit check made with UC regardless of how many offers you receive.

2. Compare: the offers are collected on My pages, where you see the nominal interest rate, effective interest rate, fees and monthly cost for each offer.

3. Sign: you sign the loan agreement with the lender you choose. The money is normally paid out within 1–3 banking days after you have signed.

Requirements

To apply for a car loan via Zmarta, you need to be at least 18 years old, be registered in the Swedish Population Register (folkbokförd) and have an annual income of at least SEK 100,000. Meeting the requirements means you can apply; whether you are granted a loan is decided by each lender.

A payment remark (betalningsanmärkning) does not stop your application, but it affects the banks' assessment and can mean fewer or no offers. If you have a debt with the Swedish Enforcement Authority (Kronofogden), you can still apply, but most lenders will not grant a loan. Those that do require a co-applicant.

You can apply with a co-applicant. You are then both jointly liable for the loan, and a UC credit check is made on both of you.

What does a car loan cost?

The cost depends on the interest rate, the fees and the repayment period. Compare the effective interest rate – it includes the fees and makes the offers comparable. A longer repayment period gives a lower monthly cost, but usually a higher total cost.

Match the repayment period to the car

A car loses value over time. Choose a repayment period that does not outlast the time you plan to keep the car, so you do not owe more than the car is worth when you want to sell it.

Variable or fixed interest rate

By law you always have the right to repay a loan early, in full or in part. With a variable rate there is no extra cost. With a fixed rate the lender may charge compensation for lost interest.

No tax deduction – and a cap on costs

From 2026, interest on unsecured loans – including car loans via Zmarta – is no longer tax-deductible in Sweden. For loans taken out from 1 March 2025, interest and fees together may never exceed the amount borrowed.

Other ways to finance a car

• Dealer financing: many dealers offer financing or instalment plans. Check the effective interest rate and the fees, not just a campaign rate.

• Car loan with residual value: you only pay off part of the car's value during the loan, and a remaining amount (the residual value) is due at the end. This gives a lower monthly cost but leaves a debt at the end of the period. This type of loan is offered by dealers and finance companies, not via Zmarta.

• Private leasing: you pay a monthly fee to use the car but never own it, and there are usually limits on mileage and wear.

Before you buy a car

• Budget for running costs: insurance, vehicle tax, inspection, service, tyres and fuel or charging come on top of the loan.

• Consider a used car: a new car loses a large part of its value in the first years.

• Negotiate: try to get the price down, or extras such as winter tyres included.

• Check the car's history: look up the vehicle in the Swedish Transport Agency's (Transportstyrelsen) vehicle register before you buy, especially from a private seller.

Have several loans already? Read about how to consolidate loans.