Equipment Lease

Equipment Leasing calculator

Equipment price incl. VAT *
EUR
Downpayment
%EUR
Type of lease
Financial lease is a leasing transaction where you pay the total cost of the asset and interest during the leasing term and then become the owner of the asset.At the end of the operating lease term you can return the asset to the back buyer, purchase it at the buy back value or prolong the contract.Hire-purchase is a transaction similar to financial lease, where the seller of the property is an individual or a legal entity not VAT liable. At the end of the leasing contract you will become the owner of the asset.
Period
Interest
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Residual value
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Monthly payment
0EUR
Schedule

Flexible solutions

Our long experience and wide selection of products enables us to offer you the best solutions. We offer new and used agricultural, construction, warehouse, industrial and production equipment leasing.

Contract information in the Internet bank

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

Terms and conditions
  • We provide financing for agricultural, construction, warehouse, industrial and production equipment
  • The cost of property from €6000 upwards
  • Property not older than 12–20 years (depending on the class of property) by the end of the contract
  • Self-financing min. 10%
  • Leasing period up to 6 years

Swedbank Leasing is the only one offering full service leasing of heavy machinery in Estonia. This is an operating lease that does not burden the balance sheet of your company and the property will be returned to Swedbank Leasing at the end of the term. In addition to financing and insurance costs, also the costs related to the maintenance of the property may be added to the monthly invoice, enabling you to better plan the cash flows and minimise risks for your company. We can provide full service leasing for so to say “moving” machinery:

  • construction and warehouse equipment (loaders, backhoes, warehouse lifts, material handling equipment);
  • agricultural equipment (tractors, combine harvesters);
  • commercial vehicles (means of transport, trailers, buses).

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.

  • Casco and motor third party liability insurance

    Casco insurance and/or additional services expire automatically after the payment term of the last instalment, if you paid for those together with the leasing payments. If you paid for the casco insurance separately, you will have to turn to the insurance company in order to request termination of the contract, should you wish to do so. If you wish the insurance cover to continue, you should contact Swedbank P&C Insurance AS.

    If you have concluded a motor third party liability insurance contract with Swedbank P&C Insurance AS, you must contact us in 30 days of re-registration of the vehicle in your name, so that we could change the motor third party liability insurance contract to your name. Pursuant to the Motor Third Party Liability Insurance Act the prepayment for a valid motor third party liability insurance belongs to the new owner if the previous owner has not terminated the insurance before re-registration of the vehicle at the Road Administration. For terminating the motor third party liability insurance, please turn directly to the insurance company.

  • Leasing

    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 €
    - entry into a operational lease agreement (1) 1,5% of the price of the property, no less than 200 €
    1.1 Amendment of the lease agreement
    - changing the payment date (first change is free of charge) 30 €
    - restoration of the agreement, repayment holiday (along with extending the period regarding the repayment holiday) 65 €
    - payment of an additional payment of operating lease if accompanied by an amendment (including repayment schedule amendment) of the lease agreement 160 €
    - 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 €
    - 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 €
    - reduction of the interest rate 1% of the outstanding amount, no less than 65 €
    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 €
    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 € 1€/month
    monthly fee of a card with a limit of 200 – 250 € 2,60 €/month
    monthly fee of a card with a limit of 300 – 350 € 3 €/month
    monthly fee of a card with a limit of 400 – 600 € 5 €/month
    monthly fee of a card with a limit of 700 € 6 €/month
    monthly fee of a card with a limit of 1,000 € 7,70 €/month
    monthly fee of a card with a limit of 2,000 € 10 €/month
    monthly fee of a card with a limit of 3,000 € 12 €/month
    monthly fee of a card with a limit of 5,000 € 15 €/month
    monthly fee of a card with a limit of 7,000 € 17 €/month
    1.5 Additional services as a one-off service
    - one-time transfer service (2) 100 €
    - transport of tyres to a tyre hotel within the territory of the same city (2) 38 €
    - 24-hour emergency assistance service (2) 85 €
    - Registration operations at Maanteeamet. Performed by lessor's employee (expenses of Maanteeamet are added) (2) 39 €
    1.6 Other services
    - preparation and sending of penalty invoices (2) 6,40 €
    - 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 €
    - 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 €
    - formalization of Road Administration e-service transaction (2) 3,20 €
    - notarised power of attorney of the vehicle (e.g. using the vehicle) (within 4 working days) (2) 73,50 €
    - release of the additional collateral (suretyship, guarantee) (2) 95 €
    - payment of the costs of removing the vehicle (added to the direct costs of removing the vehicle) (2) 31 €
    - preparation of certificate (2) 6,40 €
    - sending a notice on breach and cancellation of the agreement (2) 6,40 €
    - sending an extract of the fuel card (2) 3,20 €
    - fee for replacement of the fuel card during the lease term due to the customer's fault (2) 3,20 €
    - re-formalisation of an invoice 38,35 €
    - balance confirmations issued by leaser 9 € (free of charge on the customer’s form)
    - balance comparison notices issued by leaser (2) 19 €
    - entry into a debt agreement 1% of the outstanding amount, but no less than 159,80 €
    - contractual penalty for delays in the timely return of the vehicle 50 €/ day
    - document processing fee (2) 31,95 €, but no less than 6,40 €
    - vehicle valuation service (incl. passenger cars, caravan cars, motorcycles and ATVs) (2) 50 €
    - water craft valuation service (incl. launches, motorboats, yachts and sailing vessels) (2) 110 €
    - truck, trailer, heavy machinery valuation service (incl. excavators, tractors, loaders, hoists, combine harvesters and couplings) (2) 80 €
    - forestry machinery and equipment valuation service (incl. harvesters, forwarders, manufacturing equipment and machine tools) (2) 130 €
    - provision of valuation services on site (vehicles, Tallinn) valuation service fee + 20 €
    - 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 €
    - entry into a financial lease agreement (1) 1.5% of the price of the property, no less than 200 €
    - entry into a full service lease agreement (2) 1.5% of the price of the property, no less than 200 €
    - entry into a vehicle management service contract agreement (2) 40 €
    2.1 Amendment of the lease agreement
    - changing the payment date (first change is free of charge) 30 €
    - restoration of the agreement, repayment holiday (along with extending the period regarding the repayment holiday) 65 €
    - payment of an additional payment and/or additional financing 160 €
    - 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 €
    - lowering the interest rate 1% of the outstanding amount, no less than 65 €
    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 €
    - 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 €
    - payment of an additional payment and/or additional financing, extension of the contract period (2) 192 €
    - reduction of the interest rate 1% of the outstanding amount, no less than 78 €
    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 € 1 €/month
    monthly fee of a card with a limit of 200 – 250 € 2,60 €/month
    monthly fee of a card with a limit of 300 – 350 € 3 €/month
    monthly fee of a card with a limit of 400 – 600 € 5 €/month
    monthly fee of a card with a limit of 700 € 6 €/month
    monthly fee of a card with a limit of 1,000 € 7,70 €/month
    monthly fee of a card with a limit of 2,000 € 10 €/month
    monthly fee of a card with a limit of 3,000 € 12 €/month
    monthly fee of a card with a limit of 5,000 € 15 €/month
    monthly fee of a card with a limit of 7,000 € 17 €/month
    2.7 Full service lease additional services inclused in the monthly payment
    - fuel card/additional fuel card fee (2) 5 €/month
    - international fuel card fee (2) 5 €/month
    2.8 Additional services as a one-off service
    - one-time transfer service (2) 100 €
    - transport of tyres to a tyre hotel within the territory of the same city (2) 38 €
    - 24-hour emergency assistance service (2) 85 €
    - registration operations at Maanteeamet. Performed by lessor's employee (expenses of Maanteeamet are added) (2) 39 €
    2.9 Other services
    - preparation and sending of penalty invoices (2) 6,40 €
    -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 €
    - 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 €
    - formalization of Road Administration e-service transaction (2) 3,20 €
    - 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 €
    - release of the additional collateral (suretyship, guarantee) 95 €
    - payment of the costs of removing the vehicle (added to the direct costs of removing the vehicle) (2) 31 €
    - preparation of certificate (2) 6,40 €
    - sending a notice on breach and cancellation of the agreement (2) 6,40 €
    - sending an extract of the fuel card (2) 3,20 €
    - fee for replacement of the fuel card during the lease term due to the customer’s fault (2) 3,20 €
    - re-formalisation of an invoice 38,35 €
    - balance confirmations issued by leaser 9 €, free of charge on the customer’s form
    - balance comparison notices issued by leaser (2) 19 €
    - entry into a debt agreement 1% of the outstanding amount, but no less than 159,80 €
    - contractual penalty for delays in the timely return of the vehicle 50 €/day
    - document processing fee (2) 31,95 € , but no less than 6,40 €
    - vehicle valuation service (incl. passenger cars, caravan cars, motorcycles and ATVs) (2) 50 €
    - water craft valuation service (incl. launches, motorboats, yachts and sailing vessels) (2) 110 €
    - truck, trailer, heavy machinery valuation service (incl. excavators, tractors, loaders, hoists, combine harvesters and couplings) (2) 80 €
    - forestry machinery and equipment valuation service (incl. harvesters, forwarders, manufacturing equipment and machine tools) (2) 130 €
    - provision of valuation services on site (vehicles, Tallinn) valuation service fee + 20 €
    - 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 €
    - fee for re-formalisation of the contract to another person (debt transfer agreement) 65 €
    - 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 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 Leasing in 3 days.

Read more about the casco and motor third party liability insurance

Check whether the property belongs to Swedbank

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