Car loan

A car loan is the answer when you need to finance a car, whether new or used. OP car finance is always inexpensive, safe and flexible.

Choose the best car loan for you from three different options

Bank Loan

Most affordable interest rate

  • Owner-occupied apartment or other assets as collateral
  • For all banks' customers
  • Over 10,000 euros - No predetermined maximum amount
  • Typical interest rate 3 - 5 % + 12-month Euribor

Consumer Credit

The fastest option - money into your account immediately

  • No need for collateral or guarantors
  • Only for OP customers
  • Max. 15,000 euros
  • Interest rate 7.95 % + 3-month Euribor

Hire Purchase

Buy a car with a fixed monthly interest rate and repayment

  • The car to be bought as collateral for financing
  • For all banks' customers
  • No predetermined maximum amount
  • Typical interest rate 5 - 8%

Do you first wish to calculate the monthly repayment of your car loan?

Go to loan calculator

Many ways to finance a car – from us you can get a car loan that is perfect for you

You can apply for three different types of car loan from OP. They differ from each other in terms of collateral, interest rate and maximum loan amount. You can choose between a secured car loan, an unsecured car loan and a car hire purchase. We can definitely offer you the most suitable way to finance a car.

Applying for a car loan from OP is smart. We never apply hidden interest or other charges. 


Secured car loan – choose bank Loan 

You can apply for a secured loan starting from 10,000 euros, with no upper limit, alone or together with another person. The interest rate of a secured loan is lower than that of an unsecured loan because collateral ensures that the loan is repaid to the bank. The loan interest is determined separately for each customer.

In general, residential property (such as an owner-occupied home, a buy-to-let home or a holiday home) is used as collateral. The home doesn’t need to be free from debt to be used as collateral for a loan.

Other assets, like forest, investments or savings, can also be used as collateral. However, the car to be bought or consumer goods aren’t eligible as collateral.

Did you know that as OP cooperative bank’s owner-customer you will earn OP bonuses on a secured loan?


Unsecured car loan – choose Special Consumer Credit

If you want to finance your car with Special Consumer Credit, you will get the money into your account quickly and you can buy the car wherever you want. 

You can get a car loan of up to 15,000 euros without collateral. Only OP customers can apply for the unsecured Special Consumer Credit. The credit interest rate is 7.95 % + 3-month Euribor. 

Apply for the credit online. Normally, you will get a loan decision and offer right away. After you have read the loan terms and conditions, you can accept the offer on and you will get the money to your account immediately.

With hire purchase, you can buy a car easily and conveniently from a car dealer

When you buy a car with hire purchase, the car to be bought serves as collateral for the financing. You do not need any additional collateral or guarantors. OP will own the car until the last hire-purchase instalment has been paid.

Make a preliminary calculation of hire purchase in our service for car buyers

What is the cheapest car loan?

When choosing a car loan, take note of the final overall costs. There’s more to loans than the interest rate or establishment fee. Typically, you will be charged a credit establishment fee, a handling fee and interest, and these should not be compared separately.  A loan with the lowest establishment fee is not necessarily the cheapest option over time.

Use the OP car loan calculator to easily see the total interest and expenses of your car loan. The calculator helps you plan a loan period that is suitable for you and calculates the effective interest rate for each car loan alternative. 

Compare loans with the loan calculator

What affects the interest rate and price of a car loan? 

The interest rate and price of your car loan are affected by the loan amount and whether you opt for a loan with or without collateral. The interest rate of a loan with collateral is always lower than that of an unsecured loan.


Apply for a car loan online and get a decision quickly   

No matter which type of car financing you choose, fill in and submit the loan application online. You will always get the car loan decision quickly.


A bank loan is one-off credit. If the 12-month Euribor is 1.921% (September 5, 2022) and the loan’s interest rate is a 3.9% margin plus the 12-month Euribor, the effective interest rate on a bank loan of 10,000 euros with a five-year repayment period will be 7.2%. A monthly servicing fee of 2.50 euros per month will be charged. An origination fee of 120 euros will be payable when the loan is drawn down. The estimated total amount payable will be 11,842 euros.

This calculation is based on the assumption that the entire loan has been drawn down, the loan interest rate, fees and charges are constant throughout the loan term, and the loan is repaid in equal instalments of 192.88 euros each month. The bank loan is granted by an OP cooperative bank.

Special Consumer Credit is a one-off loan: the effective interest rate for a 7,000-euro loan with a 5-year payback period would be 11.59 % if the credit interest rate were the 3-month Euribor + 7.95% (9.68 % in November 2022) and the loan servicing fee 6 euros per month.

The estimated total amount payable would be 9,181.69 euros. This calculation is based on the assumption that the loan is drawn down in a lump sum and the loan interest and charges and fees remain unchanged throughout the loan term. It also assumes that the loan is repaid in monthly instalments of 155 euros all the way to the final instalment.

The loan is granted by OP Retail Customers Plc

Hire purchase financing is a one-off credit. Effective interest rate on a credit of 20,000 euros with a 5-year credit period amounts to 7.6% when the interest rate on financing is 6% (12/22), the establishment fee is 190 euros and the invoicing fee is 9 euros per month. The estimated total cost of credit is 23,959.10 euros, paid in 60 instalments of 399.40 euros each. This calculation is based on the assumption that the entire credit is drawn down at the same time and that interest on the loan, and the charges and fees, remain unchanged throughout the loan term.

The credit is issued by OP Corporate Bank

OP cooperative bank owner-customers earn OP bonuses from:

  • Funds in savings accounts

  • Home loans, student loans and secured bank loans

  • Mutual funds and unit-linked insurance assets

  • Insurance premiums paid, such as home and motor vehicle insurance and continuous travel insurance

 OP bonuses are used for the bank’s service charges and insurance premiums.

The financing is granted by OP Retail Customers plc, OP Corporate Bank plc or OP cooperative bank, depending on the financing product.