The financing is granted by OP Corporate Bank plc.
Car hire purchase
Buy a car from a car dealership or private person with a fixed monthly repayment. Hire purchase is a convenient and reliable financing option.You will receive an offer for the hire purchase option when making the application
Apply for financing from ”Auton ostajan apuri” (the Car Buyer’s Assistant) and you will receive a financing offer online.
The car is sufficient as collateral
You can buy the car without collaterals. The car is the collateral for the hire purchase.
Easy, reliable financing
You will receive clear information on all financing costs in advance. There is a fixed interest rate in hire purchase.
You can apply for hire purchase when you have found a suitable car:
I will buy the car from a car dealership
I will buy the car from a private person
How to apply for hire purchase when buying a car from a car dealership:
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Find a suitable car
You can apply for hire purchase when you have found a suitable vehicle. Read the guidelines for buying a car from a private person using hire purchase.
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Apply for hire purchase in advance online
You will receive the financing decision when making the application. The application does not commit you to take out the financing.
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Conclude a deal
Take the financing decision with you to the car dealership. The final financing agreement will be signed at the dealership.
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When you have concluded the deal, you will receive a right of possession to the vehicle
You will obtain ownership of the vehicle when you have paid the last hire purchase instalment.
Hire purchase gives you easy and safe financing for a car
Sometimes, you may need money for many other purchases besides a car. In such a case, you may want to consider buying a car using hire purchase.
Buying a car using hire purchase is both convenient and safe. The hire purchase agreement is concluded at the time of concluding the deal. Hire purchase financing has a fixed interest rate and the instalment remains the same throughout the contract period. You can buy a car on hire purchase with a 1–6 year payment period. Note that the hire purchase interest rate may vary at different car dealerships.
When you are buying a car from a car dealership, apply for a financing decision online and take the decision with you to the car dealership. The final financing agreement for hire purchase will be signed at the dealership. OP hire purchase financing is available at Finnish car dealerships that have a cooperation agreement with OP.
What if you plan to buy a car on hire purchase from a private person? You can use OP hire purchase for that, too.
What should you know before buying using hire purchase?
- You do not need separate collateral for car hire purchase.
- The ownership of the car remains with OP Corporate Bank until you have paid the last hire purchase instalment on the car.
- As a rule, a down payment of approximately 10–20% is paid for the car upon conclusion of the deal.
- You can apply for hire purchase when you have found a suitable car.
- It is a good idea to apply for a financing decision online beforehand.
- You can also buy a car using hire purchase from a private person. Read more about buying a car from a private person using hire purchase.
How car hire purchase works
- You will get the first bill for the car hire purchase a couple of weeks before the first due date.
- Each month you will make a repayment of the vehicle to OP.
- You can pay off the whole credit or part of it within a shorter period of time than agreed on. In such a case, always contact our customer service.
- If you're going to drive your car in Europe, beyond the Nordic countries, you must have an authorisation to take the car abroad. You can order it on OP's online financing service (in Finnish).
- OP retains ownership of your vehicle. If you want to sell or trade the vehicle, for example, you must pay the remaining amount of financing when concluding the transaction.