Leasing

If a company plans to purchase a car, Nordea leasing will find the best solution to materialize the plan as soon possible.

Leasing

Nordea offers financial leasing and operating leasing for purchasing a car.  Depending on the chosen type of leasing, the vehicle either remains in your ownership or has to be returned to the bank at the end of the leasing period.

Lease Purchase (financial leasing) is an option to acquire funding for the purchase of a vehicle, which a company would like to use for a longer period of time and to keep as a property after the payment of the lease value.

  • The purchase cost of the vehicle will be covered gradually by making monthly payments.
  • At the end of the leasing period, the vehicle becomes the property of the company.


Lease (operating leasing) means acquiring the rights to use a vehicle for a fixed period of time.

  • The company makes monthly lease payments.
  • At the end of the leasing period, the vehicle must be returned to the location specified by the lessor.


Benefits

  • Convenient solution for the purchase of a vehicle.
  • Your application will be reviewed and the leasing arranged within 3 business days.
  • Nordea Finance Latvia will assist in arranging the Comprehensive Motor Vehicle Insurance (KASKO) and the Compulsory Third Party Liability Insurance (CTPL) with favourable terms.


Additional costs for the purchase of a vehicle: the Compulsory Third Party Liability Insurance (CTPL) and the Comprehensive Motor Vehicle Insurance (KASKO), registration at the Road Traffic Safety Directorate (RTSD), roadworthiness test, fuel costs, maintenance, etc. 


Apply for Leasing:

 

  • Maximum age of the vehicle at the end of the leasing period shall not be more than 13 years. For example, if in September 2016 the company wishes to purchase a vehicle by means of lease for 5 years, then at the moment of processing the leasing formalities the accepted year of manufacture of the vehicle must be 2008 or later.
  • The seller can be a car dealer or a legal person registered in Latvia.
  • A used vehicle must be registered on the name of the seller.
  • Leasing period: up to 60 months.
  • Down payment: starting from 10 % for new cars, and 20 % for used cars.
  • Interest rate: fixed or variable.
  • Minimum leasing amount: EUR 5000.
  • Lease currency: EUR.
  • Fee for arranging the formalities: up to 1.5% of the price of the lease object + VAT (minimum EUR 142.29 + VAT).
  • Nordea Finance Latvia can arrange both the Compulsory Third Party Liability Insurance (CTPL) and the Comprehensive Motor Vehicle Insurance (KASKO).


Criteria for Making the Decision on Granting the Leasing:

  • Company’s financial position.
  • Debt liabilities at Nordea and/or other banks, for example, overdraft, long-term credit.
  • Positive credit history.
  • Completed application form.
  • Company's financial statements for the last full year, income statement for the last quarter or semester.
  • A copy of application signer’s passport or ID card.
  • The power of attorney to sign the documents and the agreement.
  • Offer or invoice issued by the seller.
  • Valuation is required for used cars.
Every month, the company will receive a monthly lease payment invoice electronically (no charge) or via regular mail (fee in accordance with the price list). You can apply for reception of electronic invoice at filling out the form and submit it to SIA “Nordea Finance Latvia”, Krišjāņa Valdemāra street 62, Riga, LV-1013, or send it to the following e-mail address lizings@nordea.com. The most convenient way for the payment is by processing the automatic payments from the company’s account.

Leasing terms

  • The seller must be an authorized car dealer or a company.
  • Leasing period: from 6 to 60 months.
  • Down payment starting from 10%.
  • Interest rates: fixed or variable.
  • Minimum leasing amount: EUR 5000.
  • Lease currency: EUR.
  • Fee for arranging the formalities: up to 1.5% of the price of the lease object + VAT (minimum EUR 142.29 + VAT).
  • Nordea Finance Latvia can arrange both the Compulsory Third Party Liability Insurance (CTPL) and the Comprehensive Motor Vehicle Insurance (KASKO).
NF Fleet full vehicle service leasing offer to take care of the company’s leased vehicles.  NF Fleet provides services for the car for fixed monthly lease payments, as well as services related to the  use of the car, for example, insurance and un 24 h roadside assistance in the Baltic States.

Full service leasing is a convenient way to reduce costs of car repairs, fleet management, as well as unexpected costs over the lease period. The company can fully focus on its business. No more worries about the flee maintenance and service.
You can put the company’s logo on the cars and install additional equipment for an additional fee.
Apply your company for NF Fleet full service leasing by calling the Nordea Contact Centre at +371 67096 096 or sending an e-mail to lizings@nordea.com.
  • No risk of additional service and maintenance expenses.
  • No unexpected car repair expenses.
  • No administrative routine using your company vehicle fleet.
  • No worries about your fleet unexpected remaining value reduction.
  • All NF Fleet conditions and discounts are fully applied.
  • Fixed payments during the entire lease period.
  • You receive only one bill from NF Fleet each month.
  • You can pay for NF Fleet services by using Direct Debit service of your Internet banking.
  • Detailed information about your company cars.


Financial benefits


In case of operating lease the cars aren’t reflected on your enterprise balance, because they are considered as off-balance sheet liabilities. All expenses for NF Fleet leasing services should only be registered in profit and loss accounts as common expenses along with the payments for other services.

One monthly bill for all expenses (rent, maintenance, repair, fuel) and vehicle fleet, which discards the necessity of accounting of fixed assets, calculation of car, tire and equipment wear and tear.

Simplified budget preparation, because NF Fleet service fee covers not only planned expenses, but also normal car wear and tear expenses, so that the rent payment could be fixed during the entire rental period.

Companies having entered in more than 5 lease agreements with Nordea Finance Latvia are offered a clearer invoice of lease payments.

All invoices of a type – operating or finance lease – can be joined under one consolidated invoice. Thus, you would receive just one invoice with an annex listing all your lease payments according to the effective lease agreements. Consolidated invoicing is free of charge.


To apply for consolidated invoicing, you are welcome to write an application, no set form required, to e-mail lizings@nordea.com