Compare マイカーローン (Car Finance) in Japan

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19 live offers compared from 19 providers, from 4.90% APR. Updated daily.

What is car finance in Japan?

Car finance (my-car loan, or マイカーローン) is credit used to buy a vehicle, split broadly between bank auto loans and manufacturer-linked finance from the carmakers' captive finance arms. Bank loans are unsecured personal-purpose loans at low rates, while dealer finance is arranged at the showroom and often bundled with residual-value or balloon structures tied to a specific model.

How the Japanese market works

Two channels compete. Banks such as Resona and MUFG offer my-car loans with the lowest advertised rates, applied for online or in-branch and paid directly to the dealer. Manufacturer finance houses — Honda Finance Japan, Nissan Finance Japan, Mazda Finance Japan, Daihatsu Finance Japan, Suzuki Finance Japan and Mitsubishi Auto Finance — provide point-of-sale credit with fast approval and model-specific residual (zan-ka) plans that lower monthly payments in exchange for a final balloon or vehicle return.

Benefits

Low bank rates — my-car loans from major banks can start well below the rate on general personal loans.

Showroom convenience — captive finance is approved on the spot, so you can drive away without a separate bank application.

Flexible structures — residual-value plans reduce monthly cost, useful for buyers who change cars regularly.

How to choose

Compare the total cost of credit, not just the monthly payment. Bank loans usually win on headline rate but require your own application and approval; dealer finance is faster but can price the convenience in. Check whether a residual plan leaves you owning the car or facing a balloon payment, confirm early-repayment terms, and factor mandatory running costs — shaken (biennial roadworthiness inspection), automobile tax, and compulsory jibaiseki insurance — into the true monthly budget.

Leading providers in Japan

Resona Auto Japan and MUFG Auto Loan Japan lead the bank channel on rate and reach. Among captive lenders, Honda Finance Japan, Nissan Finance Japan, Mazda Finance Japan, Daihatsu Finance Japan, Suzuki Finance Japan and Mitsubishi Auto Finance each finance their own marques, typically the simplest route when buying new from a franchised dealer.

What it costs

Advertised annual rates in the market span roughly 4.9% to 15.9%, with the strongest bank my-car loans at the low end and some dealer or longer-term plans higher. Your actual rate depends on credit standing, loan term and whether you choose a residual-value structure. Remember to budget separately for shaken, annual automobile tax, and both compulsory jibaiseki and voluntary motor insurance, which are not part of the loan.

Protections and regulation

Bank auto loans fall under the Banking Act and FSA oversight; instalment sales through dealers are governed by the Installment Sales Act. Borrowers are assessed against shared credit-bureau data, and disclosure of the total repayment amount and rate is required. Every car on the road must additionally carry compulsory jibaiseki (CALI) insurance by law, with voluntary insurance strongly recommended on top.

Common questions

Bank loan or dealer finance? Bank my-car loans usually cost less overall; dealer finance is faster and can suit residual-value plans if you change cars often.

Do I own the car during the loan? With a standard bank loan, yes. With some captive residual plans the final balloon or return terms determine ownership, so read the plan structure carefully.

Car Finance in Japan — FAQ