Extension or amendment of lease contract
For the extension of lease contract or to apply for grace period, please
submit application for amendment of lease
contract or written application indicating the desired period for the extension of the contract.
In the case of operational lease, the extension of lease contract must be agreed beforehand with car seller.
Extension of the lease contract is accompanied by the contractual fee according to Swedbank’s valid price list.
Changes in the vehicle registry data
If you would like to make changes to the registry details of the vehicle, you will need an unattested letter of authorisation
issued by Swedbank Liising AS in order to take registry steps in the Road Administration. In order to obtain the letter of
authorisation, please fill in application for letter of authorisation.
You will pay for it on the basis of the lessor’s invoice in accordance with Swedbank’s price list. The maximum term of
validity of an unattested letter of authorisation is 20 days.
Expiry of contract
Early termination of contract
If you have found a buyer (private person or company), the buyer can buy the vehicle or take over the lease contract.
Upon buying the vehicle, you must submit
an application for termination of the lease contract,
while the buyer must submit a confirmation of purchase. Thereafter the buyer will get an invoice for buying the vehicle from us.
After the invoice has been paid, Swedbank Liising AS will issue documents to the buyer, formalising the change of ownership in
the respective regional Traffic Register Bureau of the Road Administration.
Upon taking over of the lease contract, submit
an application for termination of the leasing contract,
indicating the details of the buyer. The new lessee must submit a leasing application.
The contract will be handed over on the basis of the current residual value, but by agreement the buyer may pay more for your vehicle.
In the respective regional Traffic Register Bureau of the Road Administration, the names of the new user must be added to
the registration certificate of the vehicle.
If you conclude with Swedbank Liising AS a contract for leasing a new vehicle, you are not required to pay the fee for termination of the contract.
NB! If a third party buys the vehicle, the lessee must, in accordance with the Motor Insurance Act,
address the insurance company before the vehicle is registered in the name of the new owner – otherwise the overpaid sum will
be transferred to the policy of the new owner pursuant to law.
Expiry of contract
In the case of the expiry of financial lease and hire-purchase contract, we will check whether all obligations
have been fulfilled (i.e. the leasing payments have been made and the required documents have been submitted) once the last
payment has been made. Thereafter we will send you the deeds of termination of the contract. On the basis of the deed you can
have us deleted from the register as the owner of the vehicle in the Road Administration within 5 days.
In the case of financial lease with residual value or hire-purchase contract, you can extend the contract
and pay the instalment that has been left for the end of the leasing period divided in new leasing period. For the extension
of the contract please submit before the expiry term of the contract
application or written application to the
address email@example.com, indicating the desired period for the extension of the contract.
In the event of expiry of the operational lease contract, we will send you a reminder three months before
the expiry of the term, asking you to inform us in writing (e-mail, fax or mail) whether you would like to at the end of lease term:
- purchase the vehicle (VAT being added to the residual value);
- extend the contract;
- return the vehicle to the person who is required to buy the vehicle back (the vehicle being presented to the person for inspection one month before the expiry of the term);
- replace the object of leasing by a new one.
If you wish to return the vehicle to the person required to buy it back at the end of the term of the operational lease,
please read beforehand the guidelines for identifying natural and unnatural wear and tear of
means of transport, specifying detailed
information about requirements for vehicles upon returning them.
Comprehensive insurance and additional services upon termination of the contract
If your monthly leasing invoice includes, in addition to the lease payment, also a monthly payment of comprehensive
insurance and/or additional services, this will end after the expiry of the payment term of last leasing instalment.
If your monthly leasing invoice does not contain a monthly payment of comprehensive insurance, you must address your insurance
company for termination of comprehensive insurance.
Authorisation for use of vehicle
Using the vehicle in Estonia and elsewhere in the EU
No authorisation is required. The user of the vehicle (if the user is not indicated on the registration certificate) has to
carry the registration certificate with him, which confirms the right to use the vehicle.
Use of vehicle outside the European Union
Unless You are entered as a user in the vehicle's registration certificate, You need a notarised authorisation document
for driving the vehicle outside European Union
You will get a notarised letter of authorisation within four business days of filling in the
for issuance of the letter of authorisation. We issue such letters in Estonian, Russian and English.
You will pay for it on the basis of the lessor’s invoice in accordance with Swedbank’s
price list. The maximum term of validity of a
notarised letter of authorisation is until the date of expiry of the comprehensive insurance contract.
If you intend to drive to or in Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan,
Ukraine or Uzbekistan with a leased vehicle or motorbike, you will need to enter into an additional policy of comprehensive
insurance. As regards these countries, the notarised authorisation document should be made even in case your name is indicated
as user on the registration certificate of the vehicle.