Car leasing

Car leasing

Flexible and fast financing solutions for acquiring new or used property

  • Convenient overview of leasing contracts in the Internet bank.
  • All car-related expenses on a single invoice.
  • We offer casco insurance as well as motor third party liability insurance.

Car lease calculator

Car price*
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Type of lease*
Downpayment*
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Period*
Interest*
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Monthly payment
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Results are approximate and may differ from conditions offered to you.

Flexible solutions

Our long experience and wide selection of products enables us to offer you the best solutions. We offer leasing for new and used cars, motorbikes, recreational craft, ATVs and snowmobiles.

Everything from the same place

In the Internet bank and in any Swedbank branch you can conclude casco and motor third party liability insurance contracts along with a lease contract.

Convenient settlements

If you have concluded casco and motor third party liability insurance contracts in Swedbank, then the insurance costs will be added to your monthly leasing payments.

Contract information in the Internet bank

You can find an overview of your lease contract in the Internet bank.

Terms and conditions
  • We provide financing for vehicles (incl. commercial vehicles)
  • The cost of property from €3000 upwards
  • Property not older than 15 years by the end of contract
  • Self-financing from 10%
  • Leasing period up to 5 years

We advise you on all issues related to the administration of the vehicle

If you wish to concentrate on your company’s main business and do not wish to engage in handling various matters associated with the vehicle, we advise you to conclude a Car Full Service Leasing Contract. Pursuant to the needs of your company and in addition to financing, it is possible to add all the costs related to the use of the vehicle and services to the monthly lease payment.

The administration service includes:

  • Convenient settlements via Swedbank Leasing. For that, we shall issue you a customer card that you can use for paying for services and goods at our cooperation partners, the corresponding invoices will be submitted by the respective cooperation partners to Swedbank Leasing. In case a cost is not included in your monthly payment, it will be added to your next leasing payment.
  • Booking times for technical maintenance and technical check-ups and arranging the changing and storing of tyres.
  • Fuel card that can be used for paying for fuel, car wash and car accessories. The cost of the purchases made with the fuel card will be added to the monthly payment.

We guarantee uninterrupted insurance coverage

In case of full service leasing, we guarantee uninterrupted insurance coverage and add the voluntary casco insurance and mandatory motor third party liability insurance payments to the monthly payments. Swedbank Leasing shall be the provider of the casco insurance. Upon occurrence of an insured event, we shall give advice about how to deal with the situation and coordinate with the insurance companies and repair shops, we shall also help with documents. In case of casco insurance, a 24h emergency service will be available in Estonia and in Europe.

Dispersed costs

Following the needs of your company, it is possible to add all the costs associated with the everyday use of the vehicle to the monthly leasing payment:

  • Regular technical maintenance of the vehicle
  • Seasonal changing and storing of tyres
  • Purchase of the supplementary tyres
  • Technical check-up of the vehicle
  • Replacement car upon occurrence of an insured event
  • Transfer service, i.e. taking away or bringing the car in the case of an agreed event
  • Other expenses

Amendment of contract

In case you wish to make amendments to a contract, e.g. to renew the leasing period or apply for a grace period, you should submit an application for amendment of lease contract or an e-mail simply stating your request. Fees for amending a contract are stated in the price list.

Premature termination of contract

In case you have found a buyer for the vehicle (private person or company), they have a possibility to take over the lease or buy the vehicle out (excl. hire-purchase in case of a sales contract). For buying out, an application for termination of the lease contract should be filled in and the buyer should submit a confirmation about their intention to buy out. After that, the buyer will receive an invoice from Swedbank for purchasing the vehicle. After settling the invoice, we advise you to formalise the change of ownership conveniently via e-service of the Road Administration. If the buyer wishes to have paper documents or digitally signed documents, Swedbank Leasing will issue these and the change of ownership must be formalised in the Traffic Registry Bureau of the Road Administration.

In case of transferring a lease contract, you must submit us an application for termination of the contract, indicating the details of the buyer. The new lessee must submit a lease application. The contract shall be transferred to the current residual value however, based on your mutual agreement, the buyer may pay you more for your vehicle. The names of the new users must be entered in the vehicle registration certificate at the corresponding regional Traffic Registry Bureau of the Road Administration.

NB! If a third person buys a vehicle out, then, pursuant to the Motor Insurance Act, the lessee shall notify the insurance company thereof before the vehicle is registered in the name of the new owner, otherwise, as pursuant to the law, the excess amount shall be transferred to the insurance policy of the new owner.

Authorisation to use a vehicle

A user of a vehicle whose name is not entered in the technical passport of the vehicle must carry the technical passport with them. In this case, if travelling outside the European Union, a notarised authorisation document is required and that will be issued by the lessor. We issue the authorisation document within four business days of filling in the application, in Estonian, Russian and English. The maximum period of validity of the notarised authorisation document shall be until the expiry of the term of the casco insurance contract. The payment for the authorisation document shall be effected based on an invoice and in accordance with the price list.

In the case you travel with your leased car or motorbike to Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Ukraine, Uzbekistan, Belarus or Russia, you will need to conclude a supplementary policy in addition to your casco insurance policy. If travelling to those countries, in order to avoid misunderstandings, it is advisable to have an authorisation document even if your name is in the registration certificate of the vehicle.

Amendments in the registry data of a vehicle

If you wish to amend the registry data of the vehicle, you will need an unattested written authorisation from Swedbank Leasing for performing the operations at the Road Administration. In order to receive it, fill in the application for authorisation. The fee for issuing the authorisation document shall be as pursuant to the price list. The maximum period of validity of an unattested written authorisation shall be 20 days.

  1. After expiry of contract, we advise you to register the object of lease in your name via the e-service of the Road Administration.
  2. We are going to initiate the change of ownership after payment of the last instalment.
  3. Change of ownership must be effected within 5 calendar days after entry of the information in the e-service and after you receive the corresponding notice.

NB! If the object of lease is not registered in your name in five days, the data concerning the object of lease will be temporarily deleted from the traffic register and your motor third party liability insurance policy will be terminated automatically, and you will have to turn to the Road Administration and present an official statement about the termination of the contract. Please pay attention that if you decide to buy out the object of lease or renew the lease contract at first, but later still wish to return the object of lease, the requirement to pass the technical control will nevertheless apply to you.

Upon expiry of contract, act in accordance with the type of leasing

  • Capital lease and hire-purchase

    In case of timely expiration of a capital lease or a hire-purchase contract, we shall check, after payment of the last instalment, whether all obligations are fulfilled (leasing payments made, necessary documents presented). Thereafter, we are going to send you official statements concerning the termination of the contract. Basing on the official statements, the vehicle must be deregistered from the name of Swedbank within 5 days. Re-registration can be effected in the e-service of the Road Administration.

  • Capital lease and hire-purchase with residual value

    In case of a capital lease or a hire-purchase contract, it is possible to renew the contract and pay for the residual value of the contract during a new leasing period. For renewal of the contract, please submit an application for amendment of contract prior to the expiration date of the contract. For renewal of a lease contract, a fee shall apply in accordance with the valid price list. If you do not wish to renew the contract, we shall check, after payment of the last instalment, whether all obligations are fulfilled (leasing payments made, necessary documents presented). Thereafter, we are going to send you the official statements concerning the termination of the contract. Basing on the official statements, the vehicle must be deregistered from the name of Swedbank within 5 days. Re-registration can be effected also via e-service of the Road Administration.

  • Operating lease

    Three months prior to the end of an operating lease contract, we shall send you a letter notifying about the expiry of the contract and asking you to decide what would you like to do with the object of lease when the contract expires. Upon expiration of an operating lease contract, it would be possible either to renew the contract, return or buy out the equipment.

    Renewal of contract

    For renewal of a contract, please submit an application or a written request at address liisingutugi@swedbank.ee prior to the expiration date of the contract, indicating the period for which you wish to renew the contract. After that, we shall send you an offer. For renewal of a leasing contract, a fee shall apply in accordance with the valid price list.

    Return of the object of lease

    At least one month prior to the end of a lease contract the object of lease must be presented for check-up to the repurchaser set forth in the lease contract, for checking whether the condition of the vehicle corresponds to the agreed conditions according to the Instructions for identifying natural and unnatural wear and tear of vehicle or means of transport. If the repurchaser confirms the intention to repurchase the object of lease, it shall be returned to the repurchaser at the date when the lease contract ends. If the repurchaser is of the opinion that the object of lease has defects, it is your duty to cover the repair costs before returning the object of lease.

    NB! You are obliged to have the technical condition of the object of lease checked by the repurchaser at least 1 month prior to the expiry of the lease contract, otherwise the repurchaser is entitled to refuse to repurchase.

    Buy-out of the object of lease

    For buying an object of lease out, send an e-mail to address liising@swedbank.ee. After payment of the final scheduled leasing payment, we shall prepare and send you an invoice for buying out the object of lease. Value added tax will be added to the agreed residual value of the object of lease. If you have paid the invoiced amount, we shall send you the documents pertaining to the termination of the lease contract, based on which you can, within 5 days, re-register the object of lease in your name at a bureau of the Road Administration.

    If you pass on your right to buy out the object of lease to a third person, submit a digitally signed application in which the details of the purchaser are indicated to the address liising@swedbank.ee or send us a bank message via the Internet bank.

  • Full Service Leasing

    Upon expiry of a full service lease contract, you can either renew the contract or return the vehicle.

    Return of the object of lease

    Prior to returning the object of lease, we advise you to familiarise yourself with Instructions for identifying natural and unnatural wear and tear of vehicle or means of transport that sets out detailed information about the condition of the object of lease when returning it. Please contact us at address liisingutugi@swedbank.ee for agreeing upon the time and location of returning the object of lease. Upon handing over the object of lease, an instrument of transfer and receipt of the object of lease shall be prepared that shall be signed by the lessor, by the authorised representative of the lessee and by the repurchaser of the object of lease.

    Renewal of lease contract

    Upon agreement between the parties, it is possible to renew a lease contract. For that, please submit an application or a written request at address liisingutugi@swedbank.ee prior to the expiration date of the contract. After that, we shall send you an offer. For renewal of a lease contract, a fee shall apply in accordance with the valid price list.

    Expiry of services related to a full service lease contract

    The lessee commits to reimburse to the lessor all the costs related to services that become evident after expiry of a full service lease contract, but that incurred at the time the lessor was providing the service to the lessee.

  • Comprehensive and motor third party liability insurance

    If, in addition to the lease instalments, your monthly invoice also contains monthly casco insurance premiums, the insurance expires after the due date of the last payment. If you would like to keep the insurance cover, please call us on 888 1513 or send an e-mail to varakindlustus@swedbank.ee. If the comprehensive insurance premium is not added to your monthly lease invoice, the comprehensive insurance contract will not expire automatically with the lease contract. Please contact your insurer to specify the terms and conditions.

    If you took out your motor third party liability insurance via Swedbank, please contact us within 30 days after registering the vehicle in your name so we can re-register the effective motor third party liability insurance contract in your name.

    Please note that pursuant to the Motor Third Party Liability Insurance Act, the prepayment of effective motor third party liability insurance belongs to the new owner if the previous owner has not terminated the insurance before re-registering the vehicle in the Road Administration. Please contact your insurer directly to terminate motor third party liability insurance.

    Contact details of Swedbank Varakindlustus for renewing and re-registering insurance contracts:

    You must contact your insurer if you’re using a different service provider.

PRIVATE PERSONS Effective as of 01.09.2016
1. VEHICLE AND EQUIPMENT LEASING
entry into a financial lease or hire purchase agreement (1) 1,5% of the price of the property, no less than 200 EUR
entry into a operational lease agreement (1) 1,5% of the price of the property, no less than 200 EUR
1.1 Amendment of the lease agreement
changing the payment date (first change is free of charge) 30 EUR
restoration of the agreement, repayment holiday (along with extending the period regarding the repayment holiday) 65 EUR
payment of an additional payment of operating lease if accompanied by an amendment (including repayment schedule amendment) of the lease agreement 160 EUR
payment of an additional payment of finance lease and hire-purchase sales agreement if accompanied by an amendment (including repayment schedule amendment) of the lease agreement (in the case of a fixed interest agreement) 160 EUR
extension/reduction of the contract period (during the period or at the end of the period) and/or amendment of the type of the contract 120 EUR
reduction of the interest rate 1% of the outstanding amount, no less than 65 EUR
1.2 Early termination of the lease agreement
in the case of an operating lease, finance lease and hire-purchase sales agreement if the agreement has been made before 01 July 2011 free of charge
If the termination of the agreement takes place within the first 9 months the interest until the end of the 9th month
in the case of operating lease if the agreement has been made after 01 July 2011 free of charge
If the termination of the agreement takes place within the first 9 months the interest until the end of the 9th month
in the case of a fixed interest operating lease and hire-purchase sales agreement if the agreement has been made after 01 July 2011 1% of the sum of unpaid instalments if the agreement term expires in 1 year or later; 0.5% of the sum of unpaid instalments if the agreement term expires in less than 1 year
in the case of a Libor/Euribor operating lease and hire-purchase sales agreement if the agreement has been made after 01 July 2011 free of charge (interest for the period used)
in case of sale at higher price 65 EUR
1.3 Penalty ECB interest rate (3) + 8% (currently 0.022% a day, 8.00% a year)
1.4 Additional services included in the monthly payment
Fuel card fee (except full service lease agreement and vehicle management service contract)
monthly fee of a card with a limit of 100 EUR 1EUR/month
monthly fee of a card with a limit of 200 – 250 EUR 2,60EUR/month
monthly fee of a card with a limit of 300 – 350 EUR 3EUR/month
monthly fee of a card with a limit of 400 – 600 EUR 5EUR/month
monthly fee of a card with a limit of 700 EUR 6EUR/month
monthly fee of a card with a limit of 1,000 EUR 7,70EUR/month
monthly fee of a card with a limit of 2,000 EUR 10EUR/month
monthly fee of a card with a limit of 3,000 EUR 12EUR/month
monthly fee of a card with a limit of 5,000 EUR 15EUR/month
monthly fee of a card with a limit of 7,000 EUR 17EUR/month
1.5 Additional services as a one-off service
one-time transfer service (2) 100 EUR
transport of tyres to a tyre hotel within the territory of the same city (2) 38 EUR
24-hour emergency assistance service (2) 85 EUR
Registration operations at Maanteeamet. Performed by lessor's employee (expenses of Maanteeamet are added) (2) 39 EUR
1.6 Other services
preparation and sending of penalty invoices (2) 6,40 EUR
penalty for failure to submit insurance when due up to 10% of the residual cost of property
power of attorney of giving property to sublessee (2) 19,20 EUR
an unattested power of attorney (e.g. using the vehicle, ordering a duplicate to an existing registration certificate, exchange of the license plate, amendment of the user data, etc.) (2) 6,40 EUR
formalization of Road Administration e-service transaction (2) 3,20 EUR
notarised power of attorney of the vehicle (e.g. using the vehicle) (within 4 working days) (2) 73,50 EUR
release of the additional collateral (suretyship, guarantee) (2) 95 EUR
payment of the costs of removing the vehicle (added to the direct costs of removing the vehicle) (2) 31 EUR
preparation of certificate (2) 6,40 EUR
sending a notice on breach and cancellation of the agreement (2) 6,40 EUR
sending an extract of the fuel card (2) 3,20 EUR
fee for replacement of the fuel card during the lease term due to the customer's fault (2) 3,20 EUR
re-formalisation of an invoice 38,35 EUR
balance confirmations issued by leaser (2) 9 EUR (free of charge on the customer’s form)
balance comparison notices issued by leaser (2) 19 EUR
entry into a debt agreement 1% of the outstanding amount, but no less than 159,80 EUR
contractual penalty for delays in the timely return of the vehicle 50EUR/ day
document processing fee (2) 31,95EUR, but no less than 6,40 EUR
vehicle valuation service (incl. passenger cars, caravan cars, motorcycles and ATVs) (2) 50 EUR
water craft valuation service (incl. launches, motorboats, yachts and sailing vessels) (2) 110 EUR
truck, trailer, heavy machinery valuation service (incl. excavators, tractors, loaders, hoists, combine harvesters and couplings) (2) 80 EUR
forestry machinery and equipment valuation service (incl. harvesters, forwarders, manufacturing equipment and machine tools) (2) 130 EUR
provision of valuation services on site (vehicles, Tallinn) valuation service fee + 20 EUR
provision of valuation services on site outside of Tallinn (all propery groups) (2) fee as agreed
LEGAL PERSONS Effective as of 01.09.2016
2. VEHICLE AND EQUIPMENT LEASING
entry into a financial lease or hire purchase agreement (1) 1% of the price of the property, no less than 200 EUR
entry into a financial lease agreement (1) 1.5% of the price of the property, no less than 200 EUR
entry into a full service lease agreement (2) 1.5% of the price of the property, no less than 200 EUR
entry into a vehicle management service contract agreement (2) 40 EUR
2.1 Amendment of the lease agreement
changing the payment date (first change is free of charge) 30 EUR
restoration of the agreement, repayment holiday (along with extending the period regarding the repayment holiday) 65 EUR
payment of an additional payment and/or additional financing 160 EUR
extension/reduction of the contract period (during the period or at the end of the period) and/or amendment of the type of the contract 160 EUR
lowering the interest rate 1% of the outstanding amount, no less than 65 EUR
2.2 Amendment of the full service lease agreement
restoration of the agreement, changing the payment date, repayment holiday (along with extending the period regarding the repayment holiday), amendment of the insurance conditions (2) 78 EUR
add services into a full service lease agreement free of charge
amendment or removal of the services of the full service lease agreement and of the vehicle management service contract (2) 192 EUR
payment of an additional payment and/or additional financing, extension of the contract period (2) 192 EUR
reduction of the interest rate 1% of the outstanding amount, no less than 78 EUR
2.3 Early termination of the lease contract
fixed-rate agreement the interest sum of up to 6 months following termination
agreement pegged to LIBOR/EURIBOR the interest sum of up to 3 months following termination
withdrawal from contract at the initiative of the lessee the contract fee
2.4 Early termination of the full service lease agreement
full service lease agreement the full service lease payment sum of up to 1 month following termination
vehicle management service contract the service payment sum of up to 1 month following termination
2.5 Penalty 0.25% a day
2.6 Additional services included in the monthly payment
Fuel card fee (except full service lease agreement and vehicle management service contract)
monthly fee of a card with a limit of 100 EUR 1EUR/month
monthly fee of a card with a limit of 200 – 250 EUR 2,60EUR/month
monthly fee of a card with a limit of 300 – 350 EUR 3EUR/month
monthly fee of a card with a limit of 400 – 600 EUR 5EUR/month
monthly fee of a card with a limit of 700 EUR 6EUR/month
monthly fee of a card with a limit of 1,000 EUR 7,70EUR/month
monthly fee of a card with a limit of 2,000 EUR 10EUR/month
monthly fee of a card with a limit of 3,000 EUR 12EUR/month
monthly fee of a card with a limit of 5,000 EUR 15EUR/month
monthly fee of a card with a limit of 7,000 EUR 17EUR/month
2.7 Full service lease additional services inclused in the monthly payment
fuel card/additional fuel card fee (2) 5EUR/month
international fuel card fee (2) 5EUR/month
2.8 Additional services as a one-off service
one-time transfer service (2) 100 EUR
transport of tyres to a tyre hotel within the territory of the same city (2) 38 EUR
24-hour emergency assistance service (2) 85 EUR
registration operations at Maanteeamet. Performed by lessor's employee (expenses of Maanteeamet are added) (2) 39 EUR
2.9 Other services
preparation and sending of penalty invoices (2) 6,40 EUR
penalty for failure to submit insurance when due up to 10% of the residual cost of property
power of attorney of giving property to sublessee (2) 19,20 EUR
an unattested power of attorney (e.g. using the vehicle, ordering a duplicate to an existing registration certificate, exchange of the license plate, amendment of the user data, etc.) (2) 6,40 EUR
formalization of Road Administration e-service transaction (2) 3,20 EUR
notarised power of attorney of the vehicle (e.g. using the vehicle, ordering a duplicate in the case of losing the registration certificate) (within 4 working days) (2) 73,50 EUR
release of the additional collateral (suretyship, guarantee) 95 EUR
payment of the costs of removing the vehicle (added to the direct costs of removing the vehicle) (2) 31 EUR
preparation of certificate (2) 6,40 EUR
sending a notice on breach and cancellation of the agreement (2) 6,40 EUR
sending an extract of the fuel card (2) 3,20 EUR
fee for replacement of the fuel card during the lease term due to the customer’s fault (2) 3,20 EUR
re-formalisation of an invoice 38,35 EUR
balance confirmations issued by leaser (2) 9EUR, free of charge on the customer’s form
balance comparison notices issued by leaser (2) 19 EUR
entry into a debt agreement 1% of the outstanding amount, but no less than 159,80 EUR
contractual penalty for delays in the timely return of the vehicle 50EUR/day
document processing fee (2) 31,95 EUR , but no less than 6,40 EUR
vehicle valuation service (incl. passenger cars, caravan cars, motorcycles and ATVs) (2) 50 EUR
water craft valuation service (incl. launches, motorboats, yachts and sailing vessels) (2) 110 EUR
truck, trailer, heavy machinery valuation service (incl. excavators, tractors, loaders, hoists, combine harvesters and couplings) (2) 80 EUR
forestry machinery and equipment valuation service (incl. harvesters, forwarders, manufacturing equipment and machine tools) (2) 130 EUR
provision of valuation services on site (vehicles, Tallinn) valuation service fee + 20 EUR
provision of valuation services on site outside of Tallinn (all propery groups) (2) fee as agreed
2.10 Small leasing of equipment
agreement amendment fee 65 EUR
fee for re-formalisation of the contract to another person (debt transfer agreement) 65 EUR
early termination fee the interest sum of up to 6 months following termination

(1) No agreement fee is charged upon using the financing of the Rural Development Foundation.

(2) The price is inclusive of VAT at the rate of 20%.

(3) The interest rate applicable to the main refinancing operations of the European Central Bank (the ECB interest rate).

Types of leasing

Capital lease

Is suitable if you wish to be the owner of the leased property after the expiry of the contract.

Operating lease

Is suitable if you wish, first and foremost, to use the property. Upon expiry of the contract, you can return the property to the seller, buy it out with the residual value or apply for a new lease contract for the residual value.

Full service

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.

What to do in the case of a loss event?

  1. Upon an insured event, you must notify the insurers that have issued the motor third party liability insurance policy and the casco insurance policy at the first opportunity, however not later than in 3 business days.
  2. Besides the insurance companies, you should notify in writing also Swedbank P&C Insurance in 3 days

Read more about the casco and motor third party liability insurance

Notification in case of insured event

  • Contact for the cases related to the loss events pertaining to the insurance contracts concluded with Swedbank P&C Insurance AS
  • 888 2111 (24h)