Car lease and car loan

Lower car leasing interest rates for both new and used cars

Depending on the age of a car, the 6 month Euribor* is now accompanied by a lower interest rate:

  • 1,99% when buying a car that is up to 1-year-old;
  • starting from 2,20% when buying a car that is 2–6-years old;
  • starting from 3,20% when buying an older car.

*Negative Euribor equals to zero.

Options for buying a car

Car loan
Contract fee is €0

Leasing
Loan amount Up to 20 000 euros Starting from 5000 euros
(excl. of VAT)
Term 6-60 months 12-84 months (in the event of an operational lease up to 60 months)
Self-financing Not necessary Starting from 10% of the price of the car
Net income Net income at least 600 euros a month (or at least 800 euros a month with a co-applicant) At least 600 euros a month
Comprehensive insurance Advisable Compulsory
The car belongs to the buyer, the bank does not need to be informed about the sale. The car belongs to the leasing company.
Fill in a loan application

Application form for co-borrower

 Fill in a leasing application

Application form for surety provider

Calculate payment

Car price (EUR)
Downpayment (%)
Period
Residual value
Monthly payment
0 EUR
The calculation is approximate and may differ from the terms and conditions offered to you.

Car loan terms and conditions

  • We offer car loan only for financing of land vehicles
  • Loan amount 3000-20 000 euros
  • At least 600 euros a month (or at least 800 euros a month with a co-applicant)
  • Contract fee: 1.5% of loan amount (minimum 100 euros)
  • Interest rate 8-19%
  • The vehicle must be registered in the name of the borrower in a Traffic Register Bureau of the Estonian Road Administration within 30 (thirty) days

The loan must be repaid within the agreed term by way of monthly repayments, but you can repay it before the prescribed time by submitting a respective application in the form of a bank message. The fee for early repayment of the loan is specified in the price list.

Apply for car loan

Steps to take a car loan

  1. Submit an application in the Internet bank or at a bank branch.

  2. The loan manager will inform you about the credit decision by phone or e-mail.

  3. Sign the contract in the Internet bank.

  4. We transfer the loan amount to your account.  Loan contract fee.

  5. Congratulations! You are the owner of a new car.  You can see contract details in the Internet bank.

  6. Do not forget to enter into a motor third party liability insurance contract.

Documents required to apply for loan

  • If your salary is not paid into a Swedbank account, submit a six-month account statement certified by the bank that opened your account.
  • If you are self-employed, submit your business revenue and expenditure calculation.

Terms and conditions

  • Leasing amount as of 5000 euros
  • At least 600 euros a month (or at least 800 euros a month with a co-applicant)
  • Down payment starting from 10% of the price of the car
  • The vehicle must not be more than 15 (fifteen) years old upon expiry of the leasing term.
  • Compulsory comprehensive insurance
  • You can pay for comprehensive insurance alongside the monthly leasing payment.
  • The term of operational leasing is up to 60 months
Apply for car leasing

Steps to obtain leasing

  1. Find a suitable vehicle.

  2. Submit a leasing application in the Internet bank, at a car dealership or at a bank branch.

  3. The leasing manager will ask for additional documentation, if necessary:

    • sales offer of a vehicle or notice of sale published on the Internet;
    • if your salary is not paid into a Swedbank account, a six-month account statement certified by the bank that opened your account;
    • if the seller of the vehicle is not a Swedbank partner a valuation report on the car.

  4. The leasing manager will inform you about the credit decision by phone or e-mail.

  5. We will agree on the time of signing the contract.

  6. We will sign the contract digitally, at a car dealership or at a bank branch.

  7. You pay the down payment and the contract fee and can pick up your car. Congratulations on your purchase!

  8. The vehicle must be registered in the name of Swedbank Liising AS in your regional
    Traffic Register Bureau of the Road Administration.

  9. Make sure the car has valid comprehensive insurance and motor third party liability insurance. If your comprehensive insurance provider is not Swedbank P&C Insurance AS, send a copy of the policy by e-mail to liisinguadmin@swedbank.ee, fax it to 888 2048 or bring it to your nearest Swedbank branch.
    The lessor accepts all insurance companies and their branches that hold official authorisation in Estonia.

  10. You will see the leasing contract details in the Internet bank and, if you wish, you can submit an application for amendment of the contract there. Contract amendment fees are specified in the price list.

Steps during leasing term

  • Authorisation for use of vehicle

    Using the vehicle in Estonia and elsewhere in the EU – no authorisation is required.

    Using the vehicle in another foreign country

    If you are not listed on the technical passport of the vehicle as a user, you will need a notarised letter of authorisation to exit the European Union with the leased vehicle. You can get this from the leasing company.

    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 a comprehensive insurance policy.

    You will get a notarised letter of authorisation within four business days of filling in the application. We issue such letters in Estonian, Russian and English. Application for 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 a notarised letter of authorisation is until the date of expiry of the comprehensive insurance contract.

    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. To receive this, submit an application. 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 (twenty) days.

    Application for authorisation to take registry steps in Road Administration

  • Amendment of contract

    If you would like to amend the leasing contract (e.g. extend the term or apply for a payment holiday), submit an application in the Internet bank or by e-mail in a free format. Contract amendment fees are specified in the price list.

  • Early termination of contract

    Selling the vehicle to an individual or entity

    If you have found a buyer, the buyer can buy the vehicle or take over the leasing contract.

    Upon buying the vehicle, you must submit an application for termination of the leasing 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 termination of the leasing 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.

    Please note: 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 financial lease, 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 (thirty) days.

    In the event of expiry of the operational lease contract we will send you a reminder three (3) months before the expiry of the term, asking you to inform us in writing (e-mail, fax or mail) whether you would like to:

    • purchase the vehicle at the end of the term (VAT being added to the residual value);
    • extend the contract, or;
    • return the vehicle to the person who is required to buy the vehicle back (the vehicle being presented to the person for inspection one (1) month before the expiry of the term).

    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, read the guidelines for identifying natural and unnatural wear and tear of vehicles, specifying detailed information about requirements for vehicles upon returning them.

Leasing for motorbikes, recreational craft, ATVs and snowmobiles

Swedbank also offers leasing for motorbikes, recreational craft, ATVs and snowmobiles.
Find out more by calling Leasing Customer Service on 613 1324 or e-mailing liising@swedbank.ee.

  • Traffic Insurance and Casco Insurance

    You can now also sign a traffic insurance contract in the Internet Bank.

    Read more

  • Traffic Insurance and Casco Insurance

    indemnifies the largest of the two values – the agreed value of the vehicle as established in the insurance contract or the market value of the vehicle before the occurrence of the loss. We pay out the indemnity quickly.

    Read more

  • Information on your contracts in our Internet bank

    You will find an overview of your leasing and instalment payment agreements in the Swedbank Internet bank. If you wish, you can order amendments to your existing agreements electronically.

    Read more