Car leasing

The offer is until 13 November

Flexible and fast financing solutions for purchasing new or used property

  • We offer Casco and traffic insurance
  • Convenient overview of leasing contracts in the Internet bank
  • All car-related expenses on one invoice
  • Casco insurance 20% off regular price
  • Business Gold Credit Card with no issue fee
  • Contract within 24 hours

The offer is valid until 13 November 2016, the leasing contract has to be concluded at the latest on 31 January 2017.

Car lease calculator

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Type of lease*
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Interest*
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Results are approximate and may differ from conditions offered to you.

Advantages of Swedbank car leasing

Flexible solutions

We are the most experienced car lease providers in Estonia and therefore find fast solutions for you.

Swedbank also offers leasing for new and used cars, as well as for motorbikes, recreational craft, ATVs and snowmobiles.

You can also sell your car to us. We will give you the amount your car is worth and we will draw up a lease contract for its repayment.

Everything from the same place

You can sign a car lease and conclude comprehensive insurance and motor insurance contracts conveniently at any Swedbank branch or car showroom as well as digitally at home.

Consolidated bills once a month

We add your comprehensive insurance payments to your leasing bills and send you a single invoice once a month. That way you get a consolidated overview of the costs associated with your vehicle.

E-invoices or E-invoice standing order

If you like, we can send you your leasing bills as e-invoices. These are easy to pay immediately and will not get lost in the mail. Alternatively, you can use e-invoice standing order service, in which case you needn’t give your payments a second thought.

Contract information online

You will find an overview of your lease contract in Swedbank's Internet bank. If you wish, you can submit an application to amend your contract via the Internet bank.

We offer different types of leasing

Capital lease

In the case of capital lease, you become the owner of the leased property at the end of the lease period.

Operating lease

At the end of the operating lease period, you can return the property to the seller, purchase it at the residual value or apply for entering into a capital lease contract for the residual value of the equipment. You can use capital lease for acquiring a vehicle only if the property is sold by one of Swedbank’s cooperation partners who is prepared to buy back the equipment at the expiry of the leasing period.

Hire purchase

You can use hire purchase to acquire a vehicle from private persons and companies that are not required to pay VAT. You will become the owner of the property after the leasing period expires.

Application

  1. Please submit lease application.
  2. Attach necessary document to the application: (sales proposal; your company’s balance sheet and income statement for the last quarter; if seller of the vehicle is not our cooperation partner, then also valuation report.
  3. The loan manager will inform you about the credit decision by phone or e-mail and will agree on the time of signing the contract.
  4. After the payment of first instalment and contract fee you can pick up your car.
  5. The vehicle must be registered in the name of Swedbank Liising AS in your regional Traffic Register Bureau of the Road Administration. If you are going to register the vehicle by yourself as the leaseholder, please make sure you take the (signed) certificate of property conveyance with you. This document will prove that you are authorised to perform this transaction.
  6. The vehicle must have valid comprehensive and motor insurance. If your comprehensive insurance provider is not Swedbank P&C Insurance AS, send a copy of the policy by e-mail to ariklient@swedbank.ee or bring it to your nearest Swedbank branch.
  7. You will see the leasing contract details in the Internet bank and you can submit an application for amendment of the contract there.

Application forms

Useful links

Terms and conditions for leasing a car, small bus or van

  • Purchase price of the vehicle must be at least 3000 EUR (without VAT).
  • First downpayment must be at least 10% of the purchase price of the vehicle.
  • Vehicle may not be more than 15 years old by the expiry of the leasing term.
  • Leasing term may be up to 5 years.

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 30 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 ariklient@swedbank.ee, 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 vehicles or 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 application 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.

Insurance

Motor insurance is a compulsory insurance insuring the driver’s liability towards injured parties. Insurance company will compensate the personal and property damage caused to third parties and medical treatment expenses of the driver.

With regard to the amendment of the Motor Insurance Act as of 1.10.2014, in the case of a leased car, the authorised user of vehicle and not the owner of the property, i.e. SBL, shall be liable for the existence of motor insurance.

Swedbank’s comprehensive insurance will always compensate the biggest of two values – either the value of the car agreed upon the conclusion of insurance contract or market value of the car before the occurrence of damage. You can pay the payments of comprehensive insurance with lease payments once a month.

If your comprehensive insurance provider is not Swedbank P&C Insurance AS, send a copy of the policy by e-mail to ariklient@swedbank.ee or bring it to your nearest Swedbank branch.

Actions in case of insured event

If you have comprehensive insurance, read entitled ‘What to Do in the Event of a Loss’.

If you are at fault, notify the following people as soon as possible, but no later than within three working days: the insurance company that issued your motor insurance policy and the insurance company that issued your comprehensive insurance policy.

In addition to these companies, you must also inform Swedbank Liising AS in writing within three working days. E-mail a description of the loss event in free format to ariklient@swedbank.ee or fax it to 613 1929. Specify the date of the accident and the vehicle registration number in your notice.