Anyone can apply for a car loan with us
We offer fast, reliable service and competitive terms when you're buying a new or used car.
We offer fast, reliable service and competitive terms when you're buying a new or used car.
You find the right car and contact the car dealership.
Car dealer submits an electronic financing application.
You sign the loan in your phone.
The loan is registered electronically. Congratulations on your new car!
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Payment overview
We finance up to 80% of the vehicle purchase price, and the loan term depends on the age of the vehicle.
All applications must go through an authorized car dealership, which then applies for financing on your behalf.
Minimum purchase price of a car is 700,000 ISK.
Maximum mileage of a car is 180,000 km at the time of loan.
Maximum Financing | Vehicle Age + Loan Term | Maximum Loan Term | |
|---|---|---|---|
Cars | 80% of purchase price | 15 years | 7 years |
Caravans | 80% of purchase price | 15 years | 7 years |
Travel Trailers | 80% of purchase price | 15 years | 7 years |
Motorcycles | 70% of purchase price | 5 years | 5 years |
ATVs | 70% of purchase price | 5 years | 5 years |
Significant funds are invested in vehicles, and even minor damages can be very costly, especially if insurance coverage is not in order.
It's easy to get a quote for car insurance from Vörður in the Arion app, taking only a few seconds. If you like the offer, you can complete the purchase with a single click.
In the Arion app, you have better oversight of your insurance policies and can easily add coverage if something is missing or when circumstances change.
Our experts have years of experience and are always ready to assist and find the best financing option for you.
If you have further questions, you can contact us by phone at 444 8800 or send an email to bilar@arionbanki.is.
Ahead of us is a comprehensive energy transition in the air, at sea, and on the roads. We all need to work together as one to reduce greenhouse gas emissions in order to combat climate change and achieve Iceland's climate goals. Everything matters, big and small.
It costs a fair amount to buy and operate a car – which is why it pays to do some research before finalizing your purchase and getting behind the wheel of your new vehicle. Here are some practical tips that will hopefully help you in your search for your dream car.