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Leasing: Frequently asked questions

What does SEB leasing finance?

SEB leasing finances the purchase of cars, commercial transport, various types of equipment and devices. The leasing object can be new or used.

What is the maximum term of the lease?

The maximum possible term of the lease is 7 years for a new leasing object. The age of a used leasing object may not exceed 10 years at the end of the term of the lease. All applications for the lease are evaluated individually.

How does an operating lease differ from a financial lease?

Financiel lease is a leasing transaction whereby SEB leasing purchases the leasing object and devolves the right of use of this object to the customer. The customer repays the value of the leasing object in full amount and at the end of the term of the lease the leasing object is transferred into the ownership of the customer.

Operating lease is a long term rent, where at the end of the term of the lease the residual value of the leasing object is determined. The customer pays only a part of the purchase price of the leasing object by the end of the term of the lease. At the end of the lease the leasing object is returned to SEB leasing.

How to proceed at the end of the operating lease?

Three options are possible at the end of the operating lease:

  • first, to return the leasing object to SEB leasing in accordance with the signed agreement;
  • second, to sign a financial lease agreement for the sum of the residual value;
  • third, the possibility of selling the leasing object to the customer at the sum of the residual value may be assessed.

How long does it take for me to learn whether I can conclude a lease agreement?

SEB leasing provides a reply on the possibilities of funding within 1 - 2 business days after the receipt of all documents required for the evaluation of the transaction.

What costs must I consider?

The initial costs that must be taken into consideration upon the concluding of a leasing transaction are the following: first deposit, commission costs, the evaluation of the leasing object (in cases when a used leasing object is being leased), registration of the car with CSDD, CASCO and MTPL insurance. Further on during the term of the lease - monthly lease payments, insurance, fuel costs and car maintenance costs.

On what dates must the monthly car lease payments be made?

You may choose between the 15th and the 25th date for the monthly lease payments.

What are the ways of receiving monthly invoices?

The most convenient way of receiving monthly invoices is electronic receipt by e-mail or by applying for the e-rēķini service. If required, we can ensure the sending of the invoice by mail.

How to change the method of invoice receipt?

You can apply for changing the method of invoice receipt by sending an application via the SEB bank internet banking mail service (Ibanka) or to the e-mail seblizings@seb.lv.

What account must monthly payments be transferred to?

The account numbers of SEB leasing are indicated in the monthly invoice:
- USD LV56UNLA0001101074927
- EUR LV88UNLA0001102074227
 
Indicate the number of the invoice or lease agreement in the purpose of the payment field

What to do if I have not received the invoice?

If you need to receive the invoice, please write to the e-mail indicating the number of the lease agreement.

How to change the lease agreement?

Please inform about any desired changes by writing via the SEB bank internet banking mail service (Ibanka) or by sending a scanned application with a signature to the e-mail .

Who is my transaction manager?

If you are a customer of SEB, your transaction manager is the person, who is responsible for all your financial transactions at SEB bank. You can find out who your transaction manager is by writing to the e-mail or calling the telephone number (+371) 26668777.

Is it possible to transfer the lease liabilities to another natural or legal person?

The liabilities of a lease agreement can be transferred to another natural or legal person at any moment within the term of the lease pursuant to the application of the customer. The person who wishes to transfer commitment must submit application for the transfer of liabilities (LAT), which has signed a successor. The person who wishes to overtake the particular liabilities must submit all documents that are required the new transaction.

Who may use the leased car?

The liability for the use of the car is assumed by the lessee in accordance with the concluded leasing agreement.

Is CASCO insurance required for the car?

The leasing object must be insured to the full market or renewal value during the entire effective period of the lease agreement, by indicating SEB leasing as the recipient of the compensation. It is the duty of the customer to submit the copy of the effective CASCO policy to SEB leasing.

How can I submit the CASCO policy to SEB leasing?

You can submit the CASCO policy by sending a scanned copy of the policy to the e-mail apdrosinasana@seb.lv or by submitting it to any branch of SEB bank.

What CASCO insurance policies are accepted by SEB leasing?

SEB leasing accepts CASCO policies of all insurance companies registered in the Register of Enterprises of the Republic of Latvia.

Can I go abroad with a leased car?

You may cross the border of Latvia to the European Union member states and CIS countries in a car financed by a lease, by receiving a prior written power of attorney from SEB leasing. The power of attorney is not required in the territories of the Baltic States.

Conditions for the receipt of the power of attorney: a submitted CASCO policy with the inclusion of the countries, the borders of which you plan to cross, a submitted copy of the technical passport of the car, absence of payment debts, a filled and signed application form regarding the issue of the power of attorney authorising the car to leave the country. You may send the application with the required attachments via the SEB bank internet banking mail service (Ibanka) or to the e-mail . You may receive the power of attorney for leaving the country at any branch of SEB bank, by giving prior notice to SEB leasing.

Is it possible to settle the lease payments earlier?

The leasing liabilities may be settled earlier. In order to receive an invoice on the residual value, you need to send an application form regarding the termination of the agreement to SEB leasing by using the SEB bank internet banking mail service (Ibanka) or by sending it to the e-mail seblizings@seb.lv. After the settlement of the invoice, please contact SEB leasing by calling the telephone number (+371) 26668777 in order to agree on the venue for the signing of the documents (any branch of SEB bank).

What should be done if a leased car has suffered a road traffic accident?

Call the police or fill out the agreed statement form, inform your insurance company and SEB leasing. You may send the application in free form via the SEB bank internet banking mail service (Ibanka) or to the e-mail . The insurance company will evaluate the damage to the car after the accident, assess the amount of losses, approve the cost estimate of the repair works or pay the insurance indemnity. In order to specify the information, contact your insurance company or SEB leasing.

What should be done when the term of the lease has expired?

In the case of a finance lease, please contact SEB leasing by using the SEB bank internet banking mail service (Ibanka) or e-mailing seblizings@seb.lv, or calling the telephone number (+371) 26668777 in order to agree on the most convenient venue (any branch of SEB bank) for the signing of the transfer certificate. After the signing of the certificate you may go to the Road Traffic Safety Directorate (CSDD) and re-register the car.

In the case of an operating lease, the leasing object must be delivered to the venue indicated by SEB leasing.

 

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