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The Local _ Finance _ Loans for newcomers

Posted by: Andrey Kiselev 16.Apr.2012, 04:27 PM

Hej all,

I'm just wondering is there any option for newcomers to get a personal loan in Sweden?
Actually, I wanted to buy a car, but dealer told me that they can not arrange a loan for me. Okay, I asked Nordea, where I have an account and my salary processing, and they also said that I must have an at least one year history with them, while I have only one month... And they said that this is a kinda general rule and it doesn't really matter which bank I try - the answer will be the same.
Is that true? Are there any other options for buying used cars?


Posted by: skogsbo 16.Apr.2012, 04:36 PM

you won't get a loan from a major institution. You may get something at a ridiculous rate of interest from somewhere else, but with only a month in Sweden this is doubtful, perhaps in another 5.

What about a loan from where you came from, you will probably still have credit worthiness, just hope they don't have box, saying are you a resident!?

Posted by: Andrey Kiselev 16.Apr.2012, 07:25 PM

Bad news... for a bank, since they just lost a good customer smile.gif
Getting a loan from my previous country of residence... Well, I am pretty sure that waiting half a year without an own car is much easier than having a headache with international money transfers and legitimation...

Posted by: hatim 18.Apr.2012, 07:33 AM

Go to your bank and tell them that some other bank is willing to give you a a high-risk, slightly higher margin loan if you switched your bank to theirs. Ask them if they can match that.

Some times lying works.

PS: Nordea sucks, they are arrogant and don't know how to deal with customers. SEB is _slightly_ better.

Posted by: Yorkshireman 18.Apr.2012, 07:49 AM

The standard loan institutions will not give loans until You have built up a reasonable credit history. Some will even wait longer than 6 months, since there is no proof of income except a job contract, as no income declaration info would be on any credit check either.

Your bank may be slightly more reasonable after a number of months, since they would see regular deposits from Your employer going into Your account.

Lying is not recommended in this respect ... since the other bank You would claim has offered you a loan would have done a credit check ... all credit checks, are recorded and available to other credit checkers on the report.

In fact, requesting credit in a number of places, where they do a check, can work against You in the long run sad.gif

One can understand their need to protect the loan, You have no living history in Sweden, no credit history in Sweden. Only a promise that You will pay supported by a contract, possibly, from an employer.

One thing You could try is to have someone else who has been in sweden longer stand as "borgen" for the loan, whilst You take the loan and make the payments, they would be the one to take over the loan in the event of default.

Otherwise, live a credit free life for a while ... You may even enjoy it! wink.gif

Posted by: Andrey Kiselev 18.Apr.2012, 08:39 AM

Thanks you guys for replies!

Well, credit for me now is just convenience, not necessity. I really don't want to spend my time for "tricky" ways with guarantors etc. And after half a year credit-free-life I will save enough to get everything I need smile.gif

Posted by: Kibiri 18.Apr.2012, 09:27 AM

If you want a loan, go to open privatlÄn, and contact the institutions with reasonable rates. Big banks like Nordea, Swedbank etc. wouldn't give you a loan, but maybe smaller ones can as they are usually more flexible with this kind of things.

Posted by: Andrey Kiselev 18.Apr.2012, 04:01 PM

I found this page ( more reasonable than Compricer.
I have submitted just a couple of applications and I'm not going to submit more because 1) I am not very optimistic about them and 2) I don't want those banks to trouble my employer.

Posted by: dalkennywhufc 18.Apr.2012, 08:38 PM

I had same problems but found a dealer near helsingborg (im in malmo)who uses wasa kredit little higher rate than banks but not too bad.
i got a letter of earnings from my boss and 20%deposit and i now own a lovey audi got credit for 110,000krone
best of luck

Posted by: Cenk 27.Jun.2017, 12:11 PM

I got an apartment loan just 4 months after I have moved to Sweden from SEB. Other banks offered the same loan as well. The interest rates were also very comparable to what my Swedish friends were paying. The only requirement from the banks was that I had a permanent contract which means that the trial period needs to be completed.

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