Anyone can
apply for a car loan
with us

More favorable interest rates on loans for environmentally friendly cars.

Lower interest rates
on environmentally friendly cars

We offer lower interest rates to people buying cars which run on 100% renewables and plug-in hybrids with a Co2 emissions coefficient of less than 50g Co2/km.

Anyone can apply for a car loan with us

Vehicle financing with Arion Bank is available to anyone regardless of where you normally do your banking. Once you have found the vehicle you want, the car dealer will submit an application for financing via Arion Bank’s application system. 

We finance new and used vehicles

Arion Bank finances up to 80% of the purchase price of the vehicle and the loan period depends on the age of the vehicle. All applications must be made via a recognized car dealer who will apply for financing on your behalf.

  • The minimum purchase price of the vehicle is ISK 700.000.
  • The vehicle can have a mileage of a maximum of 180,000 km at the time of borrowing.
  • If the vehicle is too old you can bridge the gap with a Consumer Loan.
  Maximum financing Combined age* Maximum loan period 
Vehicles 80% of purchase price of vehicle  15 years  7 years
 Caravans and mobile homes 80% of purchase price of caravan/mobile home  15 years  7 years
 Motorbikes and quad bikes Up to 70% of purchase price of motorbike/quad bike   5 years  5 years

*Combined age of vehicle and loan period


You find the car you want and contact a car dealer


The car dealer submits a digital application for financing.


You sign the agreement in your mobile phone.


Congratulations on your new car!

Do you need car insurance?

Buying a car is a considerable investment and any damage to the car can prove very expensive if you don’t have proper insurance coverage.

It only takes a couple of seconds to get a quote for car insurance from Vörður insurance in the app. If you find the insurance quote you want, you can complete the purchase with a single click.

  • Keep track of your insurance policies from Vörður in the Arion app and get a complete overview of what coverage your policies provide in just a few clicks.
  • You can easily add more insurance if you want better protection or if your circumstances change.

Get the Arion app for iOSGet the Arion app for Android

More on


Our car financing team

Account manager

Rósalind María Gunnarsdóttir

Account manager

Íris Dögg Haraldsdóttir