OP Smart Contracts – Safe car sales between private individuals

Buy or sell a used car, motorcycle, snowmobile or campervan, from one private person to another

A free service for the customers of all Finnish banks

The same service can also be used to get financing and insurance

The OP Smart Contracts service makes car and motorcycle sales between private individuals easy

A free service for buying and selling used vehicles for the customers of all banks

A service for the customers of all banks

You use the service with strong identification, and we automatically check the ownership data of the used vehicle. You can use the service to sell a vehicle of which you are the sole owner.

The OP Smart Contracts service is used with strong identification

Draw up a deed of sale for your vehicle easily, correctly and free of charge

The service allows you to easily draw up a deed of sale for a used vehicle without any charges. The deed of sale includes vehicle information verified by Traficom.

The OP Smart Contracts service allows you to draw up a deed of sale for your car or motorcycle correctly, in one go

Safe payment, financing and transfer of vehicle ownership

You can file your transfer notification smoothly in the service. The transaction price can be paid by online payment or OP’s financing, and it will only be transferred to the seller when the vehicle’s transfer notification is made.

The OP Smart Contracts service allows you to pay and to change ownership with ease

Insurance and register the vehicle right away

After a successful purchase, you can easily insure and register your new vehicle in the service. Drive safely!

The OP Smart Contracts service allows you to quickly take care of the registration and the insurance of your car or motorcycle.

Apply for financing for a used car or other vehicle in advance

Apply for financing in the OP Smart Contracts service, and you will get your financing decision immediately in most cases.
You can apply for financing even if you don't have a car or other vehicle purchase ready.
The application is free of charge and does not obligate you to use the financing.
The financing is designed for any bank's customers
The first invoice always comes with no interest or charges
The interest rate of the financing follows the market at a steady pace

Apply for financing

Learn more about the financing‍

Insure and register your vehicle smoothly

You can buy Pohjola Insurance's motor vehicle insurance and register your vehicle in the OP Smart Contracts service when you purchase the vehicle
Our motor liability insurance’s starting bonus is at least 40 %, with a maximum bonus of 80 %.
You can also get comprehensive motor vehicle insurance for better coverage for your vehicle.
You now get a 20% online discount on comprehensive motor vehicle insurance for a passenger car when buying the insurance online.

Learn more about car insurance for passenger cars‍‍

Learn more about van insurance‍

Learn more about motorcycle insurance‍‍

Learn more about snowmobile insurance‍

Learn more about campervan insurance‍

How the OP Smart Contracts service works

Seller:
Go to the service and identify yourself with your bank’s user ID. Add a new car or motorcycle for sale and follow the service’s instructions. Finally, invite a buyer to the service by entering their contact information.

Buyer:
Go to the service and use the user ID of your bank for strong electronic identification. Log in to the service as a buyer and search for the deed of sale by entering your phone number in the search field. You can also apply for financing through the service. In most cases, you will receive your financing decision immediately. If you have applied for financing in advance, you will see the amount of financing granted on the My Sales page.

Fill in, check and accept the vehicle's deed of sale. Next, you must pay the transaction price. Only make the payment on the OP Smart Contracts service. You can decide yourself which amount you pay using online payment, and how much of OP's financing you wish to use. The payment will be held in OP's customer asset account until the seller has made a transfer notification for the vehicle.

Seller:
Make a transfer notification for the vehicle free of charge through the service. We will transfer the transaction price paid by the buyer from OP’s customer asset account to the account indicated by you when the transfer notification has been filed. It may take a few weekdays for the transaction price to be transferred to your account. Congratulations on a successful sale!

Buyer:
The vehicle you purchase must have valid motor liability insurance before it can be registered. You can buy motor liability insurance and an optional comprehensive motor vehicle insurance for your vehicle easily in the OP Smart Contracts service.

Buyer:
Register the vehicle within seven days of the seller’s transfer notification. After the transfer of ownership, insurance and registration are taken care of, you’ve finished! Congratulations on your new vehicle - and safe driving!

Go to the service

More information about financing and example calculation

You can apply for 2,000 – 20,000 euros of financing for a vehicle sale conducted through the OP Smart Contracts service.

You do not need a down payment, collateral security or guarantors. Available for any bank’s customers.
The vehicle will be yours right away.
You can pay some or all of the transaction price through financing.
Apply for financing and get a decision quickly. Applying for financing does not oblige you to use the financing.
Repayment all at once or in flexible instalments. The first invoice comes with no interest or charges.

Financing is a one-off loan. For a loan of 10,000 euros, the effective interest rate is 8.73% – with an interest rate of OP-prime + 4.40% (7.40% on 11/24), an establishment fee of 0 euros and a billing fee of 6 euros per month. The estimated total amount payable is 12,934.09 euros. The calculation is based on the assumption that the entire credit is used, the credit interest rate, fees and charges remain constant through the loan term, and the credit is repaid in minimum monthly instalments of €170 euros (1.7% of loan amount) with a loan term of 77 months. The creditor is OP Corporate Bank plc, Gebhardinaukio 1, FI-00510 Helsinki.

FAQ about the OP Smart Contracts service: buying and selling used vehicles or motorcycles

Using the OP Smart Contracts service

Does the OP Smart Contracts service cost anything?

The OP Smart Contracts service is free of charge for users. Only registering a vehicle is subject to a payment, and Pohjola Insurance transfers the payment to Traficom.

Who can use the OP Smart Contracts service? Do I have to be an OP customer?

The OP Smart Contracts service can be used by any private person, and the service is intended only for sales of vehicles between private persons. The service allows you to easily arrange the sale or purchase of a used vehicle with another private person. Using the service does not require the seller or buyer to be an OP customer. Users log in to the service using their bank’s online user identifiers.

Is it safe to use the OP Smart Contracts service?

Using the OP Smart Contracts service is safe. Both the seller and buyer use the service with strong identification. The deed of sale for the used vehicle includes vehicle information verified by Traficom and is more comprehensive than a standard deed of transfer for a vehicle. When concluding the sale, the transaction price for the vehicle is only transferred to the seller once the seller has made a transfer notification for the vehicle.

How do you process my personal data?

We will keep your data safe and process it in the manner required by law. Read more about the processing of personal data in the service's Privacy Notice.

Read the Privacy Notice

Do you use my personal data for marketing?

The service separately asks for marketing consent. If you consent to marketing, we can market services related to the OP Smart Contracts service for you. You can cancel your marketing consent at any time, after which you will no longer receive marketing communications from us.

Where can I find the service's terms of use?

You can find the terms of use of the OP Smart Contracts at op.fi.

Read the terms of use

Where can I find the service's accessibility statement?

You can find the accessibility statement of the OP Smart Contracts service at op.fi.

Read the accessibility statement

Buying or selling a used car in the service

What vehicles can I buy or sell in the OP Smart Contracts service?

Currently, the service can be used for buying or selling used passenger cars, vans, motorhomes, snowmobiles and motorcycles (vehicle categories L3 and L3e).

Who can I sell used cars to in the service?

The OP Smart Contracts service allows you to sell a car to persons aged 18 or over with a Finnish personal ID code. The person must not have a prohibition on the disclosure of their personal information.

I have a used hire-purchase car. Can I sell it in the service?

You can only use the service to sell cars of which you are the sole owner. If your car is owned by a finance company, unfortunately, you cannot sell it in the service.

Can I sell a vehicle of which I am the holder?

No. You can only sell a car of which you have sole ownership.

Why am I unable to retrieve my vehicle's details for the deed of sale?

Traficom's vehicle register may have a prohibition on selling the vehicle or a similar reason.

How do I get my vehicle's deed of sale from the service?

You will receive the vehicle's deed of sale in PDF form, and you can also print it in the OP Smart Contracts service if you wish. We store the vehicle's electronic deed of sale for one year in the OP Smart Contracts service.

How long do the buyer and seller have to conclude the sale, and how long is the information about the sale stored in the service?

An incomplete sale will be stored in the service for the seller for six months. A buyer invited to a sale has three days to accept the deed of sale and pay the transaction price for the car. If the time limit of three days is exceeded, and the sale expires, you can restart the sale. Information about concluded sales will be stored for one year for both the buyer and seller.

The time limit for my sale was exceeded – can I restart the sale?

You can always restart the sale and make a new deed of sale if necessary.

Can I cancel the vehicle sale during the sale process?

Yes, you can cancel the sale at any point. The sale also automatically expires if the buyer has not accepted the deed of sale and paid the transaction price within three days of the start of the sale, or if the seller does not make a transfer notification within the time limit.

Can I test drive the car or request a condition inspection for it before the sale?

You can discuss any test drives or condition inspections with the seller. OP is not a party to the sale and is not responsible for the vehicle being sold.

Buying or selling a used motorcycle or snowmobile in the service

What vehicles can be bought or sold in the OP Smart Contracts service?

You can buy or sell used motorcycles (vehicle categories L3 and L3e), snowmobiles, passenger cars, vans and motorhomes in the service.

Who can sell a used motorcycle in the OP Smart Contracts service?

You can use the service for trading if you are of age, have a Finnish personal ID code and have not prohibited information disclosure.

I have a used motorcycle bought on hire purchase. Can I sell the motorcycle in the service?

You can only sell motorcycles and snowmobiles of which you are the sole owner in the service. Unfortunately, if your vehicle is owned by a finance company, you cannot sell it in the OP Smart Contracts service.

Can I sell a vehicle if I am the vehicle holder?

Unfortunately, this is impossible. You can only sell a vehicle of which you have sole ownership.

Why can I not retrieve the details of the motorcycle I want to sell for the deed of sale?

This may be because the information in the registers of the Finnish Transport and Communications Agency Traficom contains a detail preventing the motorcycle's sale.

How can I obtain the motorcycle's deed of sale in the service?

After concluding the sale, you can download the motorcycle's deed of sale in PDF format and print it from the OP Smart Contracts service if required. The vehicle's electronic deed of sale is stored in the OP Smart Contracts service for one year, and you can find it on the My sales homepage. Compared to a usual motorcycle deed of transfer, the deed of sale created in the service is more comprehensive.

How long do the buyer and seller have to conclude a deal, and how long is the information about a motorcycle sale stored in the service?

An unfinished sale is stored in the seller's service for six months. When the buyer has been invited to participate in the transaction, they have three days to accept the motorcycle's deed of sale and pay the purchase price. If the sale is not concluded within this period, the process can be restarted. Both the buyer and seller can see the information about a concluded motorcycle sale in the service for one year. You can download the motorcycle's deed of sale in PDF format from the service.

If the time limit for the sale was exceeded, can I restart the sale?

Yes, you can always restart a sale. If required, you can also draw up a new deed of sale for the motorcycle or snowmobile.

Is it possible to withdraw from a motorcycle sale while it is underway?

You can withdraw from the sale until the buyer has accepted the deed of sale. If the buyer does not accept the snowmobile's or motorcycle's deed of sale or pay the purchase price within three days of the start of the sale, or if the seller does not submit a transfer notification by the deadline, the sale expires automatically.

Is it possible to test drive a motorcycle or request a condition inspection before the purchase?

Yes, you can discuss any test drive or condition inspection with the seller. Please note that OP is not a party to the transaction and is not liable for the condition of the motorcycle or snowmobile concerned.

Paying for a used car, motorcycle or other used vehicle

How quickly will the transaction price for the vehicle be transferred from the buyer to the seller?

The transaction price will be securely transferred first to OP's customer asset account and then to the seller. The transfer of the transaction price from the buyer to the seller depends on multiple factors such as payment traffic between banks, and how quickly the seller makes their transfer notification for the vehicle. When the seller is notified in the service that the buyer has paid the transaction price, the seller can safely make the transfer notification for the vehicle and trust that the transaction price will be transferred to them.

What is OP's customer asset account?

OP's customer asset account is a temporary account that ensures the secure transfer of the buyer's money to the seller of the vehicle. The buyer's money will be held in OP's customer asset account until the seller has made a transfer notification for the vehicle.

Can I pay some of the vehicle's transaction price in cash and some with financing?

If you wish, you can pay some of the transaction price in cash as a credit transfer and some with OP's financing. You can easily determine the amounts when you pay.

Change of ownership of a car, motorcycle or snowmobile

When is the ownership of the vehicle transferred from the seller to the buyer?

The ownership of the vehicle will be transferred to the buyer when the buyer has paid the transaction price, and the seller has made a transfer notification.

What should I do if the seller does not make a transfer notification for the vehicle, and I have already paid the transaction price?

Don’t worry! The transaction price you paid is safe in OP's customer asset account and will be returned to you if the seller does not make a transfer notification for the car.

The seller has three days to make a transfer notification, starting from when the buyer was invited to the service. Our service checks whether a transfer notification has been made within 12 hours of the conclusion of the sale period. If the transfer notification has not been made, the transaction price will be returned to the buyer from OP's customer asset account

Financing for a used car, motorcycle or snowmobile

Who is eligible for financing in the service?

Any bank’s customers can apply for financing. To apply for financing, you must be at least 20 years old, have a permanent address in Finland, have sufficient regular income and be known for financial prudence.

How much vehicle sale financing can I apply for in the service?

You can apply for 2,000–20,000 euros of financing in the OP Smart Contracts service.

How quickly will I get my financing decision?

In most cases, you will receive a financing decision immediately in the OP Smart Contracts service. In some cases, the processing of the financing decision may be postponed until the next weekday.

Do I need to use all the financing I applied for?

You don't need to use all the financing you applied for, so you can use only part of it if you wish.

Financing billing, instalment changes and cancellation of the agreement

When will I receive the first bill for my financing, and how often will I be billed?

You will be billed about two weeks before the due date. The due date of the first bill is one month from the financing being used for payment. The first invoice always comes with no interest or charges.

Bills are sent monthly as paper invoices or e-invoices. You can order an e-invoice in your online bank.

How do I order an e-invoice? 

You can order an e-invoice in your online bank: 

• Are you an OP banking customer? See the instructions on how to order an e-invoice here

• If you are not an OP banking customer, you can order an e-invoice from your own online bank. 

When ordering an e-invoice, select OP Corporate Bank Plc as the payee and OP Smart Contracts as the subject of invoice.

Where can I check my outstanding balance and minimum monthly instalment for the financing?

The bill includes the items “buyer’s outstanding balance”, which states the entire outstanding loan as of the due date and the alternative minimum monthly instalment. If you wish, you can pay a larger sum than the minimum instalment to reduce the repayment time.

You can check your agreement's payment information and outstanding balance by logging in to OP's online financing service. You can log in by using the online banking user identifiers of any bank.

Go to OP's online financing service (in Finnish)

I am having problems with billing. Who do I contact?

If you have not received a bill or are having trouble understanding it, please call our customer service at +358 10 252 5811.

How can I apply to change the due date of my monthly instalments?

You can apply to change the due date of your monthly instalments in OP's online financing service. You can log in to the online service using the online banking user identifiers of any bank.

I want to pay a larger sum than the minimum instalment or repay the entire loan. What do I do? 

You can repay an amount larger than the minimum at any time at no additional cost. Use the reference number on your bill. You can also repay the entire outstanding loan balance at once. You can see the current date's outstanding balance and instructions for paying it in OP's online financing service.  

The total amount outstanding is also shown in the bill under “buyer’s outstanding balance”. If you want to use this amount to pay off the debt, please make sure you pay the amount on the due date marked on the bill.

How do I apply for a grace period, lower monthly instalment or change in the repayment plan? 

You get two grace months for your loan per calendar year. You can start using the grace month if your bill has not yet fallen due for payment. Please note that the grace months may not be consecutive months. If you want to use a grace period, contact our Customer Service at 010 252 5811.

If you are having temporary financial difficulties, you can apply to reduce your monthly instalment temporarily in OP's online financing service. You can apply for a change in the repayment plan for compelling reasons such as a significant decrease in your repayment capacity or a serious illness.

I have applied to reduce my monthly instalment. When will my application be processed? 

We process applications within about two weeks.

How do I terminate my financing agreement? 

The financing agreement is terminated once the loan is repaid in full. Check the total amount outstanding in OP's online financing service and pay off the loan after that. Use the reference number in your bill to pay off the outstanding balance.

Go to OP's online financing service (in Finnish)

Car, motorcycle and snowmobile insurance

Can I buy insurance for my car, motorcycle or snowmobile directly in the service?

You can buy statutory motor liability insurance and optional comprehensive motor vehicle insurance in the service for a motorcycle, a snowmobile and a car. To buy insurance in the service, you must first conclude a vehicle sale.

After the seller submits a transfer notification, you have seven days to register your car, motorcycle or snowmobile. To register your new vehicle, you must have valid motor liability insurance for it. You can easily buy motor liability insurance directly in the service.

If you wish to buy Pohjola Vehicle Insurance for your current vehicle, the easiest way to do so is through our online insurance store.

Buy Pohjola Motor Vehicle Insurance for a passenger car

Buy Pohjola Van Insurance

Buy Pohjola Motorcycle Insurance

Buy Pohjola Snowmobile Insurance

Buy Pohjola Campervan Insurance

If I buy a used vehicle in the service, do I need to buy insurance in this service as well?

Using the service does not require you to buy insurance. If you wish, you can purchase the insurance later. However, please remember that the car, motorcycle or snowmobile must be registered within seven days of the transfer notification. The vehicle must have valid motor liability insurance before it can be registered.

Will I get a discount and OP bonuses for the insurance if I am an OP customer?

Insurance purchased in the OP Smart Contracts service accumulates bonuses for OP cooperative banks' owner-customers just like Pohjola Insurance products purchased in other channels. Any discounts will also be taken into account in the insurance pricing.

OP is not a party to the sale and is not responsible for the vehicle being sold.

The OP Smart Contracts service is provided by Pivo Wallet Oy. The financing is granted by OP Corporate Bank plc, and the insurance is issued by Pohjola Insurance Ltd.