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Car Leasing

Car Leasing

Favourable Financing Conditions for Car Purchase

  • New passenger cars
  • Used passenger cars

Please apply for a free advisory meeting to learn more and to get a leasing offer.

Financial Lease

Suitable, if you plan to use the car for a long period of time 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 of time; 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.

Operating Lease

Suitable, 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. The operating lease is entered into the balance as expenses.

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.

If you wish to use the car for a longer period of time, you may replace the operating lease with a financial lease.

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 numbes are indicated including VAT

 
*The annual interest rate in the calculated sample is 3.49%

Please apply for a free advisory meeting to learn more and to get a leasing offer.

 

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.
1.
Selection of leasing object.
2.
Submission of documents at any branch of SEB bank or electronically by mailing to: seblizings@seb.lv.
3.
SEB leasing shall review your application within 1 – 2 business days and inform on the conditions of financing.
4.
Lease transaction documents shall be signed.
5.
You shall perform the payment of the first deposit and the commission fee.
6.
The registration of the leasing object with the Road Traffic Safety Directorate or State Technical Control Agency (for objects that are subject to registration).
7.
Insurance is processed.
You may inquire regarding insurance on especially advantageous terms by calling on the informative number +371 26668777, writing to seblizings@seb.lv or at any branch of SEB bank.
8.
You receive your leasing object from the seller.
9.
Further on SEB leasing shall send the monthly lease payment invoice electronically or by mail every month.

If you plan to buy or have already bought a new or used vehicle, commercial vehicle, industrial or agricultural machinery for your company with leasing financing, we will take care of its insurance. In cooperation with If P&C Insurance AS Latvijas filiāle we offer special terms for CASCO, MTPL and Special machinery insurance.

CASCO insurance

We offer special terms for CASCO insurance policy:

  • A special price offer;
  • Possibility to split insurance premium in 12 payments for free, saving 5% of the insurance premium;
  • 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).
Comparison of SuperCASCO and SuperCASCO Plus

Insurance covers

SuperCASCO

SuperCASCO Plus

Collisions and other accidents

We cover expenses caused by:

  • Road accidents, driving in a bump or in water;
  • Falling trees, branches or icicles;
  • Car service, car wash or ferries;
  • We cover expenses even if the person guilty is not known.
X X

Collision with an animal or an object

  • We cover expenses caused by a collision with an animal or accidents that happen by trying to evade an animal.
X X

Window damage

  • No deductible when replacing windows at services of other partners. In other services – deductible 70 EUR;
  • We cover expenses from damage to windshield, side windows and rear windscreen;
  • No limit to replacement of windows. For example, if window is damaged 3 times, then you can replace it 3 times.
X X

Vandalism

We cover expenses that arise from damaged caused by other individuals. For example:

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

Fire accidents

We cover expenses caused by:

  • Fire;
  • Short circuiting;
  • Smoke and soot.
X X

24-hour assistance

  • We provide 24/7 consultations and help on the road. For example, if you cannot continue driving because of an accident or any other reason;
  • We provide tow truck service;
  • We cover expenses of a taxi after an accident (up to 30 km).
X X

Totalling a car

  • We cover the market value of the car if it cannot be repaired after an accident. Market value – the sum for which you can purchase the car on the day of the accident.
X X

Natural disasters

We cover expenses caused by:

  • Hail;
  • Storms and floods;
  • Lightning strikes.
X X

Driver and passengers accident insurance

After an accident the driver and passengers will be:

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

Free replacement car

We provide replacement car:

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

Please note!
We will handle delivering the car 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

X

Compact class

X

New value insurance

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

Please note!
We offer this service 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.

X X

Key theft or fuel mixing

Keys
We cover expenses caused by losing keys or restoring remote. Limit – 500 EUR.

Fuel mixing
We cover expenses caused by mixing fuel. For example, if you fill your car with diesel instead of gasoline. Limit – 500 EUR.

 

X

Insurance of luggage

We cover expenses caused by theft of luggage or damaged caused to it from accidents. For example, laptop stolen from the car.

Limit – 1000 EUR.

 

X

Restoration of number plate

 

X

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 If support team 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;
  • 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;
  • No limit for the transportation of your car after an accident in Latvia. Abroad the limit is 700 EUR;
  • We cover the expenses of water damage to engine. The limit is 5000 EUR;
  • CASCO insurance covers expenses caused by theft of car keys or mixing fuel.

Important

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 Insurance IF P&C Insurance Latvijas filiāle by calling 67094088 or write to

Special machinery

Special machinery is agricultural, construction, forest or industrial machinery with equipment, primarily used in specially designated areas, including outside of road traffic.

Insurance of special machinery will cover the unexpected costs incurred by machinery:

  • Against all risks

or

  • Named perils – fire related risks, natural disasters related risks, water damage related risks, 3rd party damage and accidents.

If you are using financing of SEB līzings and would like to receive a Special machinery insurance offer from IF P&C Insurance AS Latvijas filiāle, please contact If support team by calling +371 67094088 or writing to .

Before renewing Special machinery 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: fire, natural disaster damage, water related damage, 3rd party damage and accidents;
  • 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 350 EUR basic deductible for damage and 20% of the insurance sum of Rental object in case of total loss, theft and robbery.

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

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 issuing of document copies from archive by clients' initiative 34.00 EUR (incl. VAT)
Issuing statements of paid contract interest
(submission to Rural Support Service)
11.00 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 1,5% of the issued outstanding lease amount,
min 50.00 EUR (incl. VAT)
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) 1,5% of the outstanding lease payments,
min 260.00 EUR (incl. VAT)
Fee for renewal of lease agreement by the Customer initiative without changes in the leasing agreement1 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 monitoring2 12.10 EUR (incl. VAT)

 


 

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

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

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