The quickest car loan from a bank.

  • Response to loan application in less than a minute
  • No down payment or comprehensive insurance required
  • Very good interest rate - from 8.9% per annum
  • Reliable bank loan from Inbank

Amount

300
300
15000

Period

6 mo
72 mo
72 mo

Monthly payment

-

The calculation is approximate and may differ from the terms and conditions offered to you. Please submit a loan application to receive a personal offer

Would you like to buy a vehicle and pay for it in instalments?

Choose the auto24 loan and you can borrow up to 10,000 euros for purchasing a car, motorcycle or boat.

Steps

  • Choose a suitable vehicle.

    The monthly payment and the button that takes you to the loan application are displayed next to the vehicles on the websites auto24.ee, mototehnika.ee and veetehnika.ee.

    Select a vehicle
  • Fill in the loan application.

    Log in with ID card or Mobile ID. When you apply for a loan, we will ask you to provide your personal and contact details, and other information required for making a personal loan decision.

    Submit loan application
  • Sign agreement.

    If the loan decision is positive, you can immediately sign the loan agreement with your ID card or Mobile ID. You must also know your PIN2 to give a digital signature. The agreement can also be entered into at an Inbank branch.

    Sign agreement
  • We transfer the money to you and you buy the vehicle.

    We will transfer the loan amount to your account within one working day after the contract has been signed. If you are not a client who has already been identified by Inbank, you need to identify yourself through webcam via Veriff or at an Omniva or Inbank branch in order for your loan agreement to enter into force. You can choose the suitable option before you sign the contract. You can then buy the desired vehicle directly from the seller.

Why choose an auto24 loan?

  1. Inbank lends money for buying a vehicle.
    The partners of auto24 are banking professionals.
  2. The quickest loan for buying a vehicle.
    You will receive the response to your auto24 loan application in less than a minute. We will transfer the money within one working day of entry into the agreement.
  3. You can decide for yourself whether or not your vehicle requires comprehensive insurance.
    Comprehensive insurance is not mandatory with an auto24 loan.
  4. No down payment is required.
    We will give you an unsecured loan of 300 to 15,000 euros and, if necessary, in the amount that equals the total cost of the vehicle.
  5. Great loan conditions and you are the owner of the vehicle.
    Favorable interest from 8.9% and transparent price list.

Terms & Conditions

Transparent loan expenses

  1. Interest rate 8.9% to 20.9% depending on the conditions offered to you.
  2. The agreement fee is 2% of the loan amount, min. 95 euros.
  3. The monthly administration fee of the agreement is 2.50 euros, which is included in the monthly repayment shown to you.

Requirements of applicants

  1. An applicant must be at least 21 years old and an Estonian citizen or holder of a residence permit.
  2. Monthly income must be at least 280 euros.
  3. Excellent credit record.

The maximum loan amount depends on the applicant’s monthly income and obligations. The payment schedule is prepared according to the annuity principle (i.e. the monthly repayments are divided equally across the entire loan period). In the case of a temporary residence permit, we can enter into the loan agreement until the expiry date of the residence permit.

Identification

When signing the contract, you are offered different identification options: Veriff, Inbank office or Omniva branch. If you are not previously identified by Inbank and have not signed any contracts with Inbank, you can verify your identity through webcam via Veriff or at an Omniva branch ar the Inbank office. If you have signed previous contracts with Inbank but your identity has not been verified by Inbank, you have to verify your identity at an Omniva branch or the Inbank office. See the locations of Inbank and Omniva branches.

Early repayment of the loan

You can repay the entire loan or parts of it early at any time. Please submit the relevant application if you wish to terminate the agreement. The early repayment fee is:

  • 0.5% of the amount to be repaid if less than one year is left until the expiry of the agreement at the moment of repayment.
  • 1% of the amount to be repaid if more than one year is left until the expiry of the agreement at the moment of repayment.

Frequently Asked Questions

How quickly will I get a response to my application?

You will immediately get a response to an application submitted on our website or at a branch. You can also sign the loan agreement straight away if the response is positive.

In case we cannot make a loan decision immediately, we ask you to present us your digitally confirmed account statement. After that, we will give a response to your loan application within one working day. The account statement has to include information about your income and obligations. If you present an account statement from Swedbank, SEB, LHV, Coop or Luminor, it has to be in a digitally confirmed format (.bdoc, .asice, .sce). If you present an account statement from any other bank, you first need to download it as a PDF file and then sign it yourself using DigiDoc programme. Make sure you check also guidelines for sending account statement.

When I am asked to submit an account statement, which format should it be in?

Inbank accepts only digitally confirmed account statements (in .bdoc, .asice, .sce format). You can download it from your home bank’s internet bank. If you present an account statement from Swedbank, SEB, LHV, Coop or Luminor, it has to be in a digitally confirmed format. If you present an account statement from any other bank, you first need to download it as a PDF file and then sign it yourself using DigiDoc programme. Make sure you check also guidelines for sending account statement. If you have saved the account statement in your computer, you can upload it to the loan application page. You can also do it later, if you log back in to Inbank’s internet bank and choose Loan and then Small loan. In case the account statement uploading still does not work, we ask you to send the statement to e-mail address laen@inbank.ee.

How do I buy the vehicle?

The loan amount is transferred to your bank account. After that, you can enter into a purchase and sale contract with the seller. You must take care of everything required in relation to the purchase of the vehicle, incl. registering the change of vehicle owner with the Road Administration. Make sure you also read the useful advice when buying a vehicle issued by the Consumer Protection Board. The easiest place to register the purchase and sale is the e-service of the Road Administration.

Do I have to submit the vehicle purchase and sale documents to the bank?

Please keep the vehicle purchase and sale documents, as the bank may ask you to submit them when 30 days has passed from entry into the loan agreement. If you fail to submit the required documents within 14 days, the bank has the right to amend the terms and conditions of the agreement unilaterally by increasing the interest rate by the rate indicated in the agreement. The agreement amendment fee must be paid for the amendment.

Do I have to take out comprehensive insurance for my vehicle?

Taking out comprehensive insurance is not mandatory when you sign an auto24 loan agreement. However, we still advise you to do so, as this will protect you against the most common losses irrespective of who causes the accident. Getting motor third party liability insurance for your vehicle is mandatory.

How much can I apply for?

The loan amount can be 300 to 15,000 euros. The sale price of the vehicle is not limited – the cost of the vehicle you buy may exceed the loan amount. We don’t require a down payment from you.

Who can apply for an auto24 loan?

All Estonian citizens or residence permit holders who are at least 21 years old, have an excellent credit record and have a monthly net income of at least 280 euros may apply for an auto 24 loan .

Who owns the vehicle during the loan period?

Since the loan amount is transferred directly to your current account and you enter into the purchase and sale contract with the seller yourself, then the vehicle immediately belongs to you, both during and after the loan period. You also have the right to sell the vehicle during the loan period and make loan repayments until the end of the loan period.

Why should I choose an auto24 loan?

An auto24 loan has several advantages that allow you to buy the vehicle you want:

  • Using our loan also allows you to buy cheaper vehicles that cannot be bought with leasing.
  • Interest rate from 8.9% to 20.9%, depending on the terms and conditions offered to you.
  • Low agreement fee, which in the case of used vehicles can have a significant impact on the total cost of credit.
  • Comprehensive insurance is not mandatory.
  • There is no restriction on the age of the vehicle to be purchased.
  • Unlike leasing, an auto24 loan is also accessible to people with lower incomes.
  • In the case of leasing, the vehicle belongs to the lessor during the lease period, but if you buy the vehicle with an auto24 loan , it is immediately yours.

Where do I have to buy the vehicle?

We advise you to use our partners auto24 when you choose the vehicle, as their selection of advertisements is the biggest in Estonia. If you select the vehicle from auto24.ee, mototehnika.ee or veetehnika.ee, you will see the monthly repayment of the auto24 loan next to the advertisement, and you can also immediately start applying for the loan. If you cannot find a suitable vehicle in these portals, you can still apply for the loan on the website of the auto24 loan.

What is the interest rate of the loan and how long is the repayment period?

The interest rate of the loan is from 8.9% to 20.9% calculated on the balance of the loan. The exact interest rate depends on the personal offer made to you, which you can review immediately after submitting your application. The term of the loan is 6 months to 6 years. The interest rate is fixed for the entire loan period and is not tied to the Euribor. You can therefore be certain that the monthly repayment will not change.

How and where can I submit my application and sign the agreement?

You can submit your loan application on the website of the auto24 loan or at an Inbank branch. You must have an ID card or Mobile ID to sign the agreement online. You must know your PIN1 to log in and your PIN2 to sign the agreement. You must present an identity document (ID card, passport or residence permit) to sign the agreement at a branch of the bank. In order for you to receive the loan sum, you must also verify your identity through webcam via Veriff or at an Omniva or Inbank branch.

How can I verify my identity?

When signing the contract, you are offered different identification options: Veriff, Inbank office or Omniva branch. If you are not previously identified by Inbank and have not signed any contracts with Inbank, you can verify your identity through webcam via Veriff or at an Omniva branch ar the Inbank office. If you have signed previous contracts with Inbank but your identity has not been verified by Inbank, you have to verify your identity at an Omniva branch or the Inbank office. See the locations of Inbank and Omniva branches.

What should I do if I can’t log in or sign the agreement with my ID card?

First of all, check that you have installed the latest version of the ID card software, or download the software if necessary. You will find a solution to your problem in the ID Card Help Centre or via the ID Card Helpline 1777.

Where can I find the agreement after I sign it digitally?

After you sign the agreement digitally, it will remain accessible in the allkiri.ee environment, where you can download it to your computer. You will also find the link to the agreement in the e-mail that is sent to you when you sign the agreement. You can also request a copy of the agreement at any time from an Inbank branch.

How long will it take before the money is paid into my account?

We transfer the money to the borrower’s account within one working day of contract’s entry into force and after your identity has been verified. More information about verifying your identity can be found from the question "How can I verify my identity?". Depending on your bank, the money will appear in your current account on the same day that we make the payment, or the next day.

Can I repay the loan before the expiry of the agreement?

Yes, you can repay the loan in part or in full before the expiry of the agreement. In order to do so, send an application to info@inbank.ee and we will send you the final balance. You can find the terms and conditions of early repayment on the Inbank price list.

Is it possible to change the payment date?

Yes. In order to do so, send an application to info@inbank.ee You will find the fee for amendment of the payment date on the Inbank price list.

Is it possible to apply for a grace period?

Yes, you can apply for a grace period if you need to. In order to do so, please submit your request to info@inbank.ee. The maximum duration of a single grace period is three months. If you wish to apply for a second grace period, your loan and interest payments for the previous three months must have been duly paid. You can apply for a grace period no more than twice during the period of validity of the loan agreement, and for no more than six months during the repayment period. The exact duration and terms and conditions of the grace period are determined by considering the needs and possibilities of each client.

What happens if a repayment is late?

If we haven’t received a repayment by its due date, we text you a reminder that the payment must be made. There are costs associated with late payments, and default interest is calculated on delayed payments. You will find the fees associated with late payments in your agreement and the Inbank price list. If you see that you are running into long-term problems with payments, please contact Inbank so we can find a flexible solution together.

What happens if I can no longer repay the loan?

Irrespective of the reasons for payment difficulties, Inbank always tries to help its clients by offering solutions that are as flexible as possible. This is why you should immediately inform us of any difficulties with repayments. For example, you can request a grace period or extend the payment term, which will reduce the monthly payments.

Why could my invoice for the first period be smaller than what is shown in the payment schedule?

Inbank begins interest calculation when the loan sum is paid put. For this reason, the sum on the invoice may be less than the sum shown in the payment schedule, which is calculated at the time of making the contract.

An auto24 loan is a financial obligation. Please assess your financial position and think about whether you really need the loan before you submit the application, so you can be sure that you are able to repay the loan in a timely manner. You may have to pay default interest and compensate for debt collection expenses if you fail to make payments when due. Failure to perform the loan agreement as necessary may make it difficult for you to obtain future loans from Inbank and other financial institutions. Please take a look at the APR and total cost of the loan before you take the loan. Before you decide, read the information on the consumer website of the Financial Supervision Authority www.minuraha.ee, the terms and conditions of the auto 24 loan and the pre-contractual information, or contact a professional, if necessary.

Submit loan application

Contact details

If you have any more questions about the auto24 loan, contact Inbank Customer Service:

The opening hours of Omniva branches differ. Please check the opening hours of your selected Omniva branch in advance.

Please make sure you read the Frequently Asked Questions – the answer to your question may already be there.