Older cars
We know that everyone has their reasons for the cars they choose, whether they are brand-new or have a long road behind them. Whatever motivates your purchase, and whatever the car’s age, we are here to help. After all, age is only a number.
With equal payments, the borrower pays approximately the same amount on each due date.
More car purchase options
A loan of up to 100%
Comprehensive insurance is optional
A loan period of up to 60 months with first lien
A simple digital process
Maximum loan amount of ISK 3,000,000.
Applies to all older cars, regardless of mileage
A simple process
Once you find your dream car, you can ask the dealership to send us a loan application on your behalf.
Good to know
100% loan
We can cover up to 100% of the car’s value with an non-indexed loan for up to 5 years.
You can change your mind
Switching vehicles? You can move your loan to your new car – and even top it up if needed.
Who are older cars for?
Older cars are available to individuals who are 20 years of age or older and fall within credit rating categories A1-B2.
No early repayment fees
Make extra down payments or clear the loan whenever it suits you. There are no early repayment fees.
Read moreYou choose your insurer
All financed cars must be fully insured but comprehensive insurance is optional. Where you insure it is entirely up to you.
100% digital
The application process is fully digital, and you can sign all documents directly on your phone.
Key points
The minimum purchase price is ISK 500,000.
Applies to cars that are 13 years old or older.
The minimum loan amount is ISK 500,000.
You can choose between equal instalments or equal payments.
The maximum loan amount is ISK 3,000,000.
Comprehensive insurance is optional.
The maximum loan period is 60 months (5 years).
You must be in credit rating categories A1-B2.
The loan-to-value ration can by anything up to 100% + the borrowing and administration fee.
Older cars - FAQS
Spurt og svarað fyrir einstaklinga - Sjá alltFAQS
Extra payments
You can make extra payments at any time to reduce your monthly instalments or even pay off the loan in full. It is simple, quick, and completely free of charge.
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Online bank
In the Íslandsbanki online bank, you can view your loan details, keep track of your current loan status, pay off the loan or make extra payments.
Open online bank
Islandsbanki app
In the Íslandsbanki app, you can view your loan details, check the balance, make extra payments or pay off the loan in full.
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Always happy to help
Our priority is to understand your needs and provide you with expert advice and exceptional service. Our team responds quickly to emails, and you are always welcome to reach out by phone or drop by during opening hours.