Since last year, private leasing has become hot again and the trend continues. New statistics show an increase of just over 30 percent in the first half of the year compared with the same period in 2025.
Avoiding upfront costs and concerns about possible depreciation have been cited as reasons for choosing leasing over buying a car. Historically, however, there have been details in private leasing agreements that can be costly. The majority of car companies base their agreements on variable, not fixed, interest rates. This is the part that can now be affected if, or when, the Swedish Central Bank raises the policy rate.
Highly unclear
However, the size of the interest-sensitive portion varies and can be difficult to assess, points out Carl-Erik Stjernvall, technical expert at the Swedish National Association of M.
"It is not at all certain that it is 100 percent of the fee. The monthly payment is part of the fee and usually includes a so-called service agreement and it has no interest component," he says.
If the Swedish Central Bank raises the key interest rate by, for example, 0.25 percentage points, the cost will not change based on the entire amount, for example SEK 3,000 a month, that you pay in leasing fees.
The problem is that the agreements are not that clear. It is often shrouded in obscurity where you have no idea how the monthly fee is affected, says Carl-Erik Stjernvall.
In connection with the recent sharp rise in interest rates, the Norwegian bank DNB, among others, found itself in a whirlwind. In a ruling, the Patent and Market Court ruled that 50,000 consumers who had privately leased, among others, had paid too much. This was because the bank used a price adjustment condition that the court found to be unfair. In April of this year, however, it was announced that the Swedish General Complaints Board (ARN) chose not to hear the dispute.
Low interest rates
Customers should therefore be prepared for costs to increase if interest rates increase. The best tip is to read the terms of the contract very carefully, advises Margareta Lindberg, investigator at the Swedish Consumer Agency.
Carl-Erik Stjernvall also points out that the situation is somewhat different now than during the last interest rate hike, when we instead came from very low interest rates.
If the interest rate increases by 0.25 percentage points from 0.25 percent, it is a 100 percent increase, but it is a difference if you go from today's 1.75 percent to 2 percent, he says.
