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Car lease

Car lease

Special offer for car financing

  • For new and used cars
  • Individual interest rate
  • Fast loan assessment

Apply for leasing via internet bank or at any SEB branch to receive an offer.

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%

 

 

  • Age limit - 18 years of age.
  • The minimum sum of funding - 7 000 EUR.
  • First deposit starting with 10%.
  • Term of lease - 6-60 months.
  • At the end of the lease the car's age cannot exceed 13 years.
  • CASCO insurance is mandatory during the agreement.
  • Car is registered on SEB līzings.

The income must be regular and sufficient for the fulfilment of liabilities.
A guarantor may be attracted, if necessary.

1.
You select the car.
2.
You submit leasing application via internet bank or at any branch of SEB bank.
3.
SEB līzings reviews your application within 1-2 business days and informs on the conditions of financing and CASCO offer.
4.
Lease transaction documents are signed.
5.
You pay the first deposit and commission fee.
How to save for down payment?
6.
Registration of the car at the Road Traffic Safety Directorate (CSDD).
7.
SEB līzings transfers money to seller after receiving of insurance policy.
8.
You receive your car from the seller.
9.
Further on SEB leasing sends the monthly lease payment invoice electronically or by mail every month.
Services Fees
Lease application review Free of charge
Fee for the preparation of leasing agreement 1,5% of the price of leasing object,
min 124.00 EUR (incl. VAT)
Additional commission for preparation of leasing agreement in 2 languages (Latvian and English) 124.00 EUR (incl. VAT)
Changes in leasing agreement or payment schedule by clients' initiative 124.00 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 25.00 EUR (incl. VAT)
Fee for sending invoices via post 2.00 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)

 


 

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.

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