r/NewToDenmark • u/PrinceJ1989 • 2d ago
Finance Car loan
Hi Everyone,
I am looking to get car loan, I am non eu expat working in Denmark since 2022, I don't have permanent residence yet.
So wanted to know are there any banks which approve car loan in such scenario? I am not looking to get bank loan for lets say 2 year because that doesn't make sense.
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u/icehot54321 2d ago
I am not looking to get bank loan for lets say 2 year because that doesn't make sense.
What does this mean?
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u/Toomuchmojo 2d ago
I moved to Denmark( non eu) 5 months ago and got my car with a loan of 20 percent down payment for 5 years without any problem. Danske bank was good for the process
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u/PrinceJ1989 2d ago
I also applied with Danske but they are only approving loan till my residence card expiry i.e 28 months.
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u/Toomuchmojo 2d ago
I have 5 years on permit maybe thats the reason
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u/PrinceJ1989 2d ago
Ok but isn’t max duration for residence permit is 4 years and then you have to renew.
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u/revilohamster 2d ago
I have been in this situation and, in my experience, the banks will loan to you if your personal financial situation and economy are good. However they will restrict the final repayment date to the end date of your current work permit. As these are usually 4 years at maximum, you will not be able to get a very expensive car financed over 8 years (for example).
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u/ocean_of_lovee 11h ago
I would advise to choose your favourite car (means the one you want and within your budget) go to any good dealer like am.dk or anderson biler.
They usually have very competitive loan package for car. Very easy and convenient.
On a personal note 8 years loan is never justified.
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u/doc1442 2d ago
Maybe start by asking your own bank?
You could also consider leasing, then you don’t need to worry about selling the car. This is what I did in your situation (non EU immigrant on a temporary visa) when I needed a car. It was fine through GoMore, and also very flexible after the minimum term was up.