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Personal loan for your car purchase

  • Get unique, personalised offers

  • Up to HKD1,000,000 unsecured

  • Select the best loan for your car

  • Minimum salary required HKD7,000


Loan Amount


Your monthly payment


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Why 70,000 Customers Choose Lendela Yearly?

Find out what our great customers have to say about Lendela.

Kaho Yim
4 days ago
(Translated by Google) Thank you very much Katy for your help. The information provided is very good and accurate.
1 week ago
(Translated by Google) Thanks katy for your opinion
Billy. Billy.billy.billy.billy 74 Man
1 week ago
Lamlam Lam
1 week ago
(Translated by Google) Katy is very helpful, thank you
Andy Cheung
1 week ago
(Translated by Google) Thank you very much Katy for your help. The information provided is very good and accurate. ...
alan chan
2 weeks ago
(Translated by Google) Katy is so quick to help me find a few left to compare and analyze.
Cullen Soriano
2 weeks ago
Canaan was so helpful and patience, he didn’t gave up until the job was done and until his client met with the...
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2 weeks ago
(Translated by Google) Katy, very nice
Cheukkiu Hui
3 weeks ago
(Translated by Google) Canaan is very nice with a good attitude
Laputa Skywalker
3 weeks ago
(Translated by Google) nice service
De Oliveira Julian Yeung
3 weeks ago
Very professional and good experience.
Thanhhung Dang
1 month ago
(Translated by Google) The service efficiency is very high, Canaan's reception attitude is very good, and the...


Three fast steps to your dream car:

Apply fast & easy

1. Apply by filling out an easy application form in 2 minutes

Receive your offers

2. Compare personalised loan offers for a car from multiple banks

Sign the agreement

3. Select your loan preference online and get your loan as fast as in one day


Our goal is to make your loan application process quicker, simpler and more transparent. As Hong Kong's only true personal loan comparison service, we support you all the way from application to disbursement. Click below to read more about Lendela and how we empower thousands of loan-seeking Hongkongers every month.

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Traditional car loan vs. personal loan

Loan is one of the most popular ways to buy vehicle in Hong Kong. Although there are numerous facilities available for public transport still some people prefer to buy their own car. There are different options available when buying a car through a loan. Basic types of loan are

  1. Traditional car loan

  2. Personal car loan

Personal loans and car loans are the two most commonly used financing options. Personal loans can be used for different purposes (Such as vacations, home renovation, wedding, etc.). Car loan is specifically used for the purpose of buying a car.

Personal loans are comparatively more flexible and are easily available online, at local banks. They also offer comparatively lower interest rates. A car loan is actually a variation of personal loan and it requires you to make a down payment to purchase the car.

How does a personal loan for a car work?

Personal loan works in similar way as car loans in Hong Kong but they have a noticeable difference. In personal loan, you can borrow a higher amount than the actual value of your car. You don’t need to disclose the information of your car. Once you receive the loan amount you can use it to finance your car or any other purpose. Your car is not collateral in personal loan; in case of insolvency you can sell your car to pay off your debt amount.

Personal loan can be with collateral or without collateral. Interest rates are comparatively low on secured loans. In Hong Kong, loan amount can vary from HKD3,000 to HKD1,000,000. Once you sign the agreement, you agree to pay the loan amount, plus the agreed interest rate.

How to apply for a personal loan for a car

To apply for a personal loan for a car, first of all, you need to compare options as to which type of loan you want. Whether you want to go for secured loans, unsecured loans or auto loans. Once you decide on the loan type you need to follow the following steps for further process.

1. Meet the eligibility criteria

To meet loan requirements, you need to make sure that you meet eligibility criteria. To meet the criteria you need to have a good credit score, permanent employment proof, minimum amount of income, residency proof, and a valid passport or identification number. These basic criteria need to be satisfied for loan approval.

2. Fill out the application form

Once you meet eligibility criteria, you need to fill up the application form and provide all necessary details (i.e. name, identification number, residence proof, income proof and purpose of loan). You need to make sure all details in the form are filled correctly and error-free.

3. Wait for approval

Once the application form is submitted, the lender/bank will start assessing whether you qualify for a loan or not. Usually, it takes 2-3 days for the bank to get back to you with an individualised offer.

4. Disbursement of funds

If your loan is approved, the lender can disburse the funds in various ways. If you obtain the loan for a car or other purpose lender can directly make payment to the vendor. If you obtain unsecured loan lender will transfer money to your bank account. Usually, it takes not more than a business day for the money to get transferred to your account.

5. Know all repayment terms

Repayments can happen monthly, quarterly or yearly depending on terms mentioned on agreement. Repayments can be made through online transfer, check or third party money transfer providers. You need to make sure that all repayments are made on time to avoid late penalties.

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Factors to consider

There are certain factors to consider when you think of applying for a loan. Below is a detailed explanation of it:

1. Interest rate and tenure

The interest rate should be a top mind factor to consider because it purely determines the cost of loan. Along with this, you need to make sure that you select the right features, such as loan size and tenure, which makes it easier for you to repay the debt.

2. Car value

Car is a depreciating asset and its value decreases with every passing day. You need to make sure that your loan amount is equal or lesser than your car value so you can easily manage to pay off your loan.

3. Insurance

As a condition of car loan, you will have to go for car insurance to keep insured from any damage. You need to decide which insurance to obtain considering insurance requirements, budget, payment schedule etc.

4. Hidden charges

Another factor you need to consider is that there are no or less hidden charges. Usually, people don’t bother to understand loan terms and conditions and end up paying extra charges. You need to very well understand all terms and conditions and make sure there are no other charges.

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