Conditions for Granting Installment Financing

Vehicle

The vehicle must be inspected, if inspection is required for that vehicle class, registered, and any vehicle tax paid.

Applicant

The buyer must be at least 18 years old, permanently reside in Finland, have a valid Finnish driver's license, have regular income, and have clean credit history.

Credit Decision

The loan intermediary submits the buyer's application to the financing company. By submitting the application to the loan intermediary, the buyer gives permission to the financing company to check personal and corporate credit information. Credit information is checked from the credit information register. The financing company makes the decision to grant installment financing. The financing company has the right to offer installment financing with conditions different from the application (such as down payment amount, loan period) or to reject the credit application. The loan intermediary sends the credit decision to the email address provided by the buyer in the application. The credit decision applies only to the applied application. The customer/applicant gives authorization to financing companies to collect and process information from other lenders about previous loans for the processing of the credit application. In addition, consent for the financing company to disclose information to Suomen Asiakastieto Oy. The financing company queries this information using the technical inquiry system maintained by Suomen Asiakastieto Oy from participating companies in the system.

Insurance

The validity of the installment agreement requires comprehensive or the most extensive insurance, including collision coverage and installment insurance. The deductible for collision coverage must be no more than 600 euros. The insurance must be valid for the entire duration of the installment agreement. The insurance application is made at the time of the transaction, and the insurance starts on the day of the transaction.

Transaction Event

The buyer agrees on the timing and location of the transaction event with the loan intermediary and commits to strong identification before a possible transaction.

Before the transaction event, the buyer must pay the down payment specified in the credit application to the vehicle seller. The vehicle is handed over, and the right of possession of the vehicle is transferred to the buyer at the transaction event. The buyer is registered as the holder of the vehicle, and the financing company is registered as the owner. The loan intermediary is responsible for registration procedures and costs.

Direct Marketing

The loan intermediary may use the information provided by the buyer in marketing collaboration with third parties. During the application, the buyer has the option to choose whether to receive information about the loan intermediary's services electronically in the future.

Reference Information

The loan intermediary has the right to use the make, model, year, and price information of the subject of the transaction in its own marketing and statistics in such a way that individual transactions cannot be identified.