Frequently asked questions
Comparison of services
Fast and hassle-free applying
Example of a loan
Monthly repayment
Repayment period
Interest rate
Annual percentage rate
Loan management fee
Total cost of the loan
Car loan
Example of a loan
Monthly repayment
Repayment period
Interest rate
Annual percentage rate
Loan management fee
Total cost of the loan
Questions and answers on Mogo's services
Applying
- What are the requirements for applying for a car loan?
Mogo offers loans to anyone who lives in Finland and is at least 18 years old.
- How do I apply for a loan?
Submit the application through Mogo website. Then we will review the application and evaluate your vehicle. To submit the application, enter your personal details on the application form. If the answer is positive, the contract can be signed digitally (if you have Finnish online banking credentials) or you can identify with your ID at our partner. After concluding the contract, register the vehicle ownership over to Mogo Oy and become the responsible user of the vehicle. Notify Mogo upon completing all the paperwork and enjoy your new vehicle!
- When do I need a guarantor?
Mogo decides, whether guarantor is needed, when evaluating each individual application. For business customers surety is a requirement.
The process of buying a vehicle
- How can I purchase a vehicle from Mogo’s partner?
If you find a suitable vehicle, submit the application with the attached promo code received from the partner. This code gives you better loan terms! We will review your application in a moment and in case of a positive decision we will conclude the contract. After concluding the contract, register the vehicle in the name of Mogo Oy and become the responsible user of the vehicle.
- How can I purchase a vehicle from a private person or a company that is not one of Mogo’s partners?
If you find a suitable vehicle, submit the application to us! We will review it as soon as possible! We will be sending you a contract that you and the seller can sign. After concluding the contract, register the vehicle in the name of Mogo Oy and become the responsible user of the vehicle. Notify Mogo upon completing all the paperwork and enjoy your new vehicle!
- Which documents are needed to draw up a contract?
To draw up a loan Agreement the document for identification is required: a passport, an ID card or a residence permit.
- Does the car have to have a valid traffic insurance and casco?
The execution of a traffic insurance policy is mandatory after the registry operations have been performed by the Road Administration (upon writing the vehicle in the name of Mogo). Casco insurance is not obligatory.
Payments
- How is the loan repayment done?
Pay your monthly installments according to the payment schedule specified in the contract. You can pay by bank transfer using one of the following accounts:
XXXXXX
XXXXXXXXXXXX
Add the contract number to the explanation field.
- Can I repay the loan earlier?
Yes, early repayment of the loan is free of charge.
Useful information
- Can I sell the vehicle before the end of the loan term?
Contact Mogo’s Customer Service and inform us of your wish to sell the vehicle. We will then send you the final invoice. Once the final invoice has been paid, we will sign the final act, on the basis of which you will be able to register the vehicle in the name of the buyer.
- How to write a vehicle in your name when the loan is repaid?
After the loan repayment, the final act must be signed digitally. Afterwards you will be able to register the vehicle in your own name.
- Should I notify Mogo if I change my contact details?
Yes, please let us know, if you change your contact details via email (info@mogo.fi) or via phone (XXX XXXX XXX).