Rising car loan interest rates in Finland strain car buyers and boost used car market

Car loan interest rates in Finland have seen a staggering increase of 500 percent over the past five years, with a further 75 percent increase this year, according to recent data. These rising interest rates come at a time when car prices are also on the rise, creating a challenging situation for car buyers. The equation becomes even more complex considering that existing cars on the road were purchased at significantly lower interest rates, and their value and condition are depreciating.