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Car lease

Car lease

A lease financing for a car purchase

  • For new and used cars
  • Individual interest rate
  • Easy application via internet bank
  • Possibility to include CASCO payments into lease invoices

You may sign the leasing agreement and other leasing related documents remotely - with qualified Smart-ID.


The most popular cars in Latvia reviewed

with car expert Normunds Avotiņš


Annual percentage rate

Annual percentage rate on a leasing deal

The annual interest rate is 3.81%. Assuming a car price of 15 000 EUR, a financial leasing period of 5 years and a down payment of 10%, the leasing interest rate will be 3% + 3 months. EURIBOR, as well as commission fee for the leasing transaction of 1.5% of the leasing object price (225 EUR). Under these conditions, the total amount to be repaid is EUR 16,301.65 with a monthly payment of EUR 242.94. This example is informative. Each customer’s situation is evaluated individually.

Annual percentage rate on a consumer loan

The annual interest rate is 11.5%. Assuming the loan amount (car price) is EUR 15 000, the loan agreement lasts for 5 years, a down payment of 0% and a fixed interest rate of 10%, a commission fee is EUR 300. Under such conditions, the total amount to be repaid is EUR 19 422.24 with a monthly payment of EUR 318.71. This example is informative. Each customer’s situation is evaluated individually.

Financial Lease

Financial lease is suitable, if you plan to use the car for a long period and receive the car into ownership at the end of the term of the lease.

On your assignment, SEB leasing purchases the car you have chosen from the seller and leases it out to you for a certain period; SEB leasing draws up an invoice regarding the lease payment and interest on the loan every month. The financial lease is entered into the balance as an asset. At the end of the term of the lease 100% of the value of the car has been paid out and the car is transferred into your ownership.

Calculate the most profitable leasing

Operating Lease

Operating lease is appropriate, if you plan to use the car for a certain period of time and return the car at the end of the term not caring about selling it.

On your commission, SEB leasing purchases the car that you have chosen from the seller and leases it out to you for a certain period of time. SEB leasing draws up an invoice regarding the lease of the car every month. At the end of the term of the lease you shall return the car to SEB leasing by submitting it in a technical condition that conforms to the natural depreciation of the car and agreement terms and conditions.

Calculate the most profitable leasing

Comparison of the types of lease

You may review the comparison of the costs of the types of lease. A simplified graph of the costs for the leasing of a car with a price of EUR 10,000 (incl. VAT), the term of lease 5 years, the first deposit 10% and the interest rate 2.5% + 3 months. EURIBOR. The residual value in the case of an operating lease is 25% of the purchase price.

The example has informative significance only.

All numbers are indicated including VAT

* AIR in this example is 3.49%


The minimum sum of funding: 7 000 EUR
First deposit:
- for new cars starting from 10%
- for used car starting from 20%
Term of lease: up to 7 years
At the end of the lease the car's age cannot exceed 13 years.
CASCO insurance is mandatory during the agreement term.
You select the car.
You submit leasing application via internet bank or at any branch of SEB bank.
SEB līzings reviews your application within 1-2 business days and informs on the conditions of financing and CASCO offer.
Lease transaction documents are signed.
You pay the first deposit and commission fee.
How to save for down payment?
Registration of the car at the Road Traffic Safety Directorate (CSDD).
SEB līzings transfers money to seller after receiving of insurance policy.
You receive your car from the seller.
Further on SEB leasing sends the monthly lease payment invoice electronically or by mail every month.

If you have bought or plan to buy a new or used car, we will take care of its insurance. In cooperation with If P&C Insurance AS Latvijas filiāle we offer special terms for CASCO and MTPL insurance.

CASCO insurance

We offer special terms for CASCO insurance:

  • A special price offer;
  • Possibility to split insurance premium in 12 payments for free;
  • The fee for the CASCO insurance policy is included in monthly leasing payment;
  • Insurance is valid in Europe without an additional cost.

CASCO insurance will cover the unexpected costs incurred by your car:

  • In cases of damage (road accidents, driving in a bump, scratches, collisions with objects, falling objects, damaged caused by other individuals, fires, natural disasters, damage caused by birds or animals);
  • In cases of theft or robbery (theft or a robbery of the car or its parts, damaged caused to car from an attempted theft).

CASCO insurance provides comprehensive protection and allows you to feel safe on the road. Choose the most suitable insurance protection for your car – KASKO SILVER or KASKO GOLD.


Insurance covers



Theft, robbery

Expenses are covered in case of:

  • Theft of a car, including cases when car keys and the car is stolen during a house robbery;
  • Damage caused by unsuccessful theft.

Collisions and other accidents

Expenses are covered in case of:

  • Road accidents, driving in a bump or in water;
  • Falling trees, branches or icicles;
  • Hail damage to car glass and body;
  • Animal scratches on car body or interior;
  • Car service, car wash or ferries;
  • Expenses are covered even if the person guilty is not known.

Collision with an animal or an object

  • Expenses are covered in case of a collision with an animal or accidents that happen by trying to evade an animal.

Window damage

  • No deductible when replacing windows at services of If Insurance partners. In other services – deductible 70 EUR;
  • Expenses are covered in case of damage to windshield, side windows and rear windscreen;
  • No limit to replacement of windows.


Expenses are covered in case of damage caused by other individuals. For example:

  • Damages to car body;
  • Punctured tires;
  • Stolen mirrors, headlights, etc.

Fire accidents

Expenses are covered in case of:

  • Fire;
  • Short circuiting;
  • Smoke and soot;
  • Extinguishing the fire.

24-hour assistance

  • 24/7 consultations and help on the road. For example, if you cannot continue driving because of an accident or any other reason;
  • Tow truck service is provided;
  • Expenses of a taxi after an accident are covered (50 EUR limit);
  • Rental car in case the car cannot be repaired within 24 hours;
  • Accommodation service if the accident has occurred in the territory of Europe and car cannot be repaired within 24 hours (300 EUR limit).

Additional equipment insurance

Car accessories worth up to 2000 EUR are insured free of charge. For example, alloy wheels, child seat, bicycle holder, advertisement stickers, etc.


Totalling a car

  • Market value of the car is covered in case it cannot be repaired after an accident. Market value – the sum for which you can purchase the car on the day of the accident.

Natural disasters

Coverage of expenses caused by:

  • Hail damage to car glass and body;
  • Storms and floods;
  • Lightning strikes.

Driver and passengers accident insurance

After an accident the driver and passengers are:

  • Compensated for medical expenses;
  • Compensated in the event of disability, death or temporary incapacity for work;
  • Provided with home adjustment if it is necessary.

Free replacement car

Replacement car for the whole duration of car repair, starting:

  • from the first day of the accident until the end of repair if the car cannot be driven or;
  • if the car is stolen or totalled.

Please note!
Replacement car will be delivered to you without extra formalities.

Types of replacement cars:
Small class (A class) – Ford Fiesta, Skoda Fabia, Toyota Yaris, etc.
Compact class (B class) – Ford Focus, Seat Leon, Nissan Pulsar, Opel Astra, Toyota Auris, Kia Ceed, etc.

Small class


Compact class


New value insurance

In case of theft or totalling the car, an amount equal to the sum paid for the car purchase will be compensated.

Please note!
New value insurance service is available for cars not older than 2 years with mileage of up to 60 000 km, if the car was purchased by an authorized dealer in the EEA countries and has only been owned or held by the insured or authorized user of the vehicle since the first registration.


Key theft and fuel mixing

Expenses caused by losing keys or restoring remote are covered. Limit – 500 EUR.

Fuel mixing
Expenses caused by mixing fuel are covered. For example, if you fill your car with diesel instead of gasoline. Limit – 500 EUR.



Insurance of luggage

Expenses caused by theft of luggage or damage caused to it from accidents are covered. For example, laptop stolen from the car.

Limit – 1500 EUR.



Restoration of number plate

Restoration of a damaged, lost or stolen number plate or technical passport. The first case of renewal is without deductible.



If you are using financing of SEB līzings and want to receive CASCO insurance offer from If P&C Insurance AS Latvijas filiāle, please contact our partner If Insurance by calling +371 67094088 or write to seb@if.lv.

Advantages of CASCO

Your advantages by choosing CASCO from If P&C Insurance AS Latvijas filiāle:

  • Unlimited car replacement cover;
  • If Insurance cover of If is valid even if your car is on a ferry, in an auto repair service, car wash or being transported;
  • No refused or reduced indemnity because of driving over the speed limit, unless it is stated otherwise in CASCO agreement;
  • CASCO is valid even if the accident was caused by unintentional violation of traffic rules, for example, running a red light or missing a stop sign;
  • No reduced indemnity if your car is stolen and the keys have been stolen from your house (there is evidence of intrusion);
  • Seasonal compliance of tires – CASCO is valid even if you have to use the spare wheel during winter;
  • No refused or reduced indemnity after collision with an animal in a location where there are traffic signs about the possibility of animals on the road;
  • Limit for the transportation of your car after an accident – 5000 EUR;
  • We cover the expenses of water damage to engine. The limit is 6000 EUR;
  • CASCO insurance covers expenses caused by theft of car keys or mixing fuel.


Before renewing CASCO insurance policy, please verify that it meets the following criteria:

  • The sum insured is not less than the market or renewal value of Rental object;
  • Insured risks: vehicle damage (road accidents, fires, natural disasters, etc.), robbery, illegal activities of third parties and death;
  • SIA “SEB līzings” (registration number 50003334041) is indicated as the beneficiary of the Insurance indemnity, for which insurance indemnity is paid in the amount of unfulfilled leasing/credit obligations upon occurrence of the insured event;
  • Deductible is set by you, but it cannot exceed 140 EUR basic deductible for damage and 20% of the insurance sum of Rental object in case of total loss, theft and robbery (vehicles with full weight up to 3500 kg).

Please send your CASCO insurance policy to or deliver it to any SEB branch.

MTPL insurance

In order to participate in traffic, owner of a car needs Motor Vehicle Owners' Compulsory Third Party Liability Insurance or MTPL.

MTPL insurance will protect the owner of the vehicle or its eligible user from unexpected costs and will compensate for the damage caused to the health, life and/or property of third parties as a result of a road accident. The MTPL insurance policy compensates the injured person for both material loss and non-material damage (moral damage) in accordance with the insurance limits specified in the MTPL Law.

If you are using financing of SEB līzings and want to receive MTPL insurance offer, please contact our partner If Insurance by calling +371 67094088 or write to seb@if.lv.

Information about the distributor of insurance products (LAT)

Services Fees
Lease application review Free of charge
Fee for the preparation of leasing agreement 1,5% of the price of leasing object,
min 150.00 EUR (incl. VAT)
Additional commission for preparation of leasing agreement in 2 languages (Latvian and English) 150.00 EUR (incl. VAT)
Changes in leasing agreement or payment schedule by clients' initiative 150.00 EUR (incl. VAT)
Issuing of documents (accounting statements, etc.) and document copies from archive by clients'initiative 34.00 EUR (incl. VAT)
Issuing power of attorney for going outside borders of the Latvian Republic for one person 30.00 EUR (incl. VAT)
Fee for sending invoices via post 3.50 EUR (incl. VAT)
Fee for leasing repayment before the term incl. additional invoice issuing for partial repayment (in case of floating interest rate)1 Free of charge
Fee for leasing repayment before the term cancellation 34.00 EUR (incl. VAT)
Fee for preparation, formatting or coordination of documents in case of the refinancing of leasing in another finance institution (agreements, contracts and their changes, requests, applications and others) Free of charge
Fee for renewal of lease agreement by the Customer initiative without changes in the leasing agreement2 95.00 EUR (incl. VAT)
Commission fee for giving consent to transfer a vehicle to a trading company 34.00 EUR (incl.VAT)
Fee for uninsured Lease object monitoring3 12.10 EUR (incl. VAT)



1 In case leasing agreement is with fixed interest rate, for repayment before term additionally is applied compensation for fixed interest rate termination expenses, but not more than stated in rules “Rules about crediting consumers" by The Cabinet of Ministers".

2 In cases when expropriation process of leased asset is not started.

3 The fee is charged if the Lease object is not insured for more than 30 days.



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