Crédito Automóvel - Car loan
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Car Loan
At novobanco, we know that finding the right car loan is the first step towards many miles of new opportunities.
Benefits of novobanco car loan
Car loan is competitive, flexible and straightforward. It gives you ownership of the vehicle with no reservation of title or mortgage required. And there is more.
Discover all the benefits and conditions and choose the car loan that suits you best.
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Associated with your Car Loan, you can add extra protection by taking out the following insurance products.
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Credit Protection InsuranceOptional credit protection insurance with unemployment and life cover
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Seguro Auto - Car InsuranceTaking out Car Insurance alongside your car loan gives you the following benefits.
- 5% discount on Formula S and Formula M, and 10% on Formula L
- No instalment charges
- Option to subscribe for vehicles up to 8 years old under Formula L
How to get Car Loan? Discover all the steps and documents
- Steps
- Required documents
- Example
How it works in 3 steps
Getting a car loan is simple and fast.
Simulation
Run a quote and find the solution that suits you, from €2,000 to €75,000, with terms from 24 to 120 months
Contact request
Submit your request and you will be contacted to arrange your car loan
Approval
Approval within 24h (after signing the contract at the branch, the money will be available in your account within 48h)
(*) Considering business days for the stated deadline.
What documents do you need?
Personal identification. Citizen Card, or Identity Card plus Tax Card
Proof of purchase. Pro forma invoice for the vehicle sale
Proof of income:
- Employees. Latest tax return plus last 3 payslips
- Self-employed workers. Tax return
- Retired or pensioners. Tax return and Social Security proof
Frequently asked questions
Como contratar um crédito?
Car loan is intended for the purchase of cars or other vehicles, new or used. It is a credit agreement where the amount, term and repayment method are defined from the start. It may also include leasing operations.
There are several types of car finance.
• Car loan with reservation of title. A loan for the purchase of a vehicle where, to secure repayment until the end of the contract, a right over the car is registered with the relevant registry office
• Car loan without reservation of title. A loan for the purchase of a vehicle where there is no reservation of title over the car. The institution may require other guarantees, such as a guarantor
• Financial leasing. A financing method through which the credit institution temporarily grants the customer the use of a vehicle in exchange for a monthly rental payment. At the end of the contract, the customer may acquire the car by paying the amount defined in the agreement
• Long-term rental. A financing method in which the credit institution temporarily grants the use of a vehicle to the customer in exchange for a monthly rental payment. At the time of contracting, the customer agrees to buy the vehicle at the end of the rental term
novobanco offers car loan without reservation of title, leasing and long-term rental.
Before entering into a consumer credit agreement, the customer should assess the impact of the monthly repayment on the household budget and compare different credit options.
It is important that the customer provides truthful and complete information to the financial institution and clearly states the intended purpose of the credit. Different types of consumer credit have different features and associated costs.
Before taking out credit, you have the right to clear and complete information on all credit conditions so that you can compare different offers properly and make an informed decision. Interest rates and charges should be compared on the basis of the Annual Percentage Rate of Charge. This information is included in the Standardised Information Sheet for Consumer Credit.
It works the same as for cars that do not fall under green mobility. The only difference is the price. Electric vehicles benefit from a 1% discount on the nominal annual rate.
Yes, as long as the vehicle is no more than 10 years old at the time the contract is entered into.
Yes. novobanco offers the option to finance the initial charges associated with Crédito Automóvel - Car Loan, allowing you to have the full amount available for the purpose you contracted.
Credit Protection Insurance is optional and, if taken out, may provide the following benefits.
• Full repayment of the loan in case of death or total and permanent disability
• Payment of instalments in case of temporary disability
• Payment of instalments for up to 6 months in case of involuntary unemployment
• Payment of instalments for up to 6 months in case of salary arrears
• The insurance premium is financed and spread across the instalments, making the effort lighter
This information does not replace consultation of the contractual conditions of this insurance, which form an integral part of the contract to be entered into with the customer.
Car loan
Apply for your car loan here
New car:
A €11.89 monthly instalment per each €1,000 for a 84 month-loan in the amount of €15,000.00, 9.3% Annual Percentage Rate of Charge (€375.00 as Loan Documentation Charge, respective taxes and Stamp Duty on the Use of the Loan and on interests, included). The value of the commissions is published in the price list. Fixed Annual Nominal Rate: 7.300%. Monthly instalment of €119.1.8 A €15,000.00 Financing amount. Total amount charged to consumer: €14,867.93. Rates in force for agreements entered into in the 3rd quarter of 2026. Subject to commercial approval. This information does not exempt Customer from consulting the pre-contractual and contractual information as required by law.
Used car:
A €12.75 monthly instalment per each €1,000 for a 84 month-loan in the amount of €15,000.00, 11.1% Annual Percentage Rate of Charge (€375.00 as Loan Documentation Charge, respective taxes and Stamp Duty on the Use of the Loan and on interests, included). The value of the commissions is published in the price list. Fixed Annual Nominal Rate: 8.800%. Monthly instalment of €127.50. A €15,000.00 Financing amount. Total amount charged to consumer: €15.865,92. Rates in force for agreements entered into in the 3rd quarter of 2026. Subject to commercial approval. This information does not exempt Customer from consulting the pre-contractual and contractual information as required by law.
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