Which financing solution should you choose for purchasing a car?
Whether you are planning to buy a new or used car, it is important to choose the financing solution that best suits your needs. Compare the benefits of car leasing and a consumer loan to find the most suitable way to finance your purchase.
Consumer loan
- Loan amount from EUR 1,000 to EUR 25,000
- Interest rate from 7.4%
- Repayment term from 1 to 7 years
- No down payment required
Which option is right for you – car leasing or a consumer loan?
Car leasing is often a cost-effective solution for purchasing a new or higher-value vehicle, as it offers individually tailored terms and a particularly attractive interest rate for electric vehicles. A consumer loan, on the other hand, provides greater flexibility, as the vehicle becomes your property immediately and no down payment is required. The right choice depends on your financial situation, the value of the vehicle you plan to purchase, and your preferred financing terms.
Additional benefits for car owners
SEB partner offers help you not only purchase a car but also reduce everyday maintenance costs.
Customers of PRO BRO Express car washes can enjoy a 20% discount on a one-month subscription, helping keep their vehicle clean and well maintained.
Car Leasing APRC Example
If you take out a lease to purchase a new car, the monthly payment would be EUR 529, assuming the vehicle purchase price is EUR 30,000, the down payment is EUR 3,000 (10% of the purchase price), the lease term is 5 years, the interest rate is 2.5% + variable 3-month Euribor, and the lease agreement fee is EUR 450 (1.5% of the vehicle purchase price). The annual percentage rate of charge (APRC) is 7.47%. The total amount payable over the lease term is EUR 32,167.
Consumer Loan APRC Example
If you are granted a consumer loan of EUR 5,000 for a period of 5 years, the monthly payment would be EUR 106.76, assuming a fixed interest rate of 10%, a loan agreement fee of EUR 90, and an account maintenance fee of EUR 1 per month. The annual percentage rate of charge (APRC) is 11.93%. The total amount payable is EUR 6,556.53.
The APRC is provided to help you compare different borrowing offers more easily.
