Leasing

If you plan to purchase a car or a motorcycle, Nordea Leasing will materialize your wish right now.

Nordea gives you a possibility to acquire a car or a motorcycle without postponing the purchase for later when your savings would be sufficient for such a purchase. Depending on the chosen type of leasing, at the end of the leasing period the vehicle either remains in your ownership or  has to be returned to the bank.

Lease Purchase (Finance Lease) is an option to acquire funding for the purchase of a car or a motorcycle, which you would like to use for a longer period of time and keep as your property after the payment of the lease value.

  • The value of the vehicle is paid off by making monthly instalments.
  • At the end of the leasing period, the vehicle becomes your own property.

Lease (Operating Lease) means acquiring the rights to use a car or a motorcycle for a fixed period of time.

  • You make 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 purchasing a car or a motorcycle.
  • Your application will be reviewed and the leasing arranged within 3 business days.
  • By taking a lease you have the opportunity to raise your customer status at the bank. For example, by becoming a Gold Customer you will qualify for personal advantages and lower interest rates.
  • Nordea Finance Latvia will assist in arranging the Comprehensive Motor Vehicle Insurance (KASKO) and the Compulsory Third Party Liability Insurance (CTPL) with favourable terms.


Remember that purchasing a car or a motorcycle always brings additional expenses: Compulsory Third Party Liability Insurance (CTPL) and Comprehensive Motor Vehicle Insurance (KASKO), registration at the Road Traffic Safety Directorate (RTSD), roadworthiness test, fuel costs, maintenance, etc.

A sample reflecting the total costs of a borrowed funding under the finance lease.
A sample reflecting the total costs of a borrowed funding under the operating lease.
 
Apply for Leasing:


Nordea offers financial and operational car leasing for private customers. Nordea has received a special permit (license) for consumer lending services in the Republic of Latvia (Licence No. NK-2016-020, issued by: Consumer Rights Protection Centre).

Lease Terms

  • Maximum age of the vehicle at the end of the leasing period may not be more than 13 years. For example, if in September 2016 you wish to purchase a vehicle by means of lease for 5 years, then at the moment of processing the lease formalities the accepted year of manufacture of the vehicle may be 2008 or later.
  • The seller can be a car dealer, legal entity or a natural person registered in Latvia.
  • A used car must be registered on the name of the seller.
  • Leasing period is from 6 to 60 months.
  • Down payment is starting from 10 % for new cars, and 20 % for used cars.
  • Interest rate - fixed or variable.
  • Minimum lease amount: EUR 5000.00.
  • Lease currency: EUR.
  • Fee for arranging the formalities: up to 1.5% of the price of the lease object incl. VAT (minimum EUR 169.40 incl. VAT).
    Nordea Finance Latvia can arrange both the Motor Third Party Liability Insurance (OCTA) and Comprehensive Motor Vehicle Insurance (KASKO).


Criteria for Making the Decision on Granting the Lease:

  • The applicant must be at least 21 years old.
  • The applicant must have regular, sufficient and recorded income.
  • Applicant's debt liabilities at Nordea and other banks, such as credit card credit limit, consumer credit, mortgage.
  • The applicant must have a positive credit history.


Required Documents

  • Completed application in Nordea Netbank under the tab APPLICATIONS or completed application form.
  • Employer's statement on income for last 6 months. Nordea customers, who receive their salary on the account at Nordea, are exempt from submitting this statement.
  • Statement from the State Revenue Service on income, if the financed amount exceeds or equals EUR 36000.00.
  • In case of purchase of a used car, its valuation is required.
  • Offer or invoice issued by the seller of the lease object.
  • Copy of your passport or ID card.


Lease Payment

  • Every month you will receive a monthly instalment invoice electronically (no charge) or via regular mail (fee in accordance with the price list).
  • You can apply for reception of electronic invoice by filling out the form and submitting it to SIA “Nordea Finance Latvia”, Krišjāņa Valdemāra street 62, Riga, LV-1013, or by sending it to the following e-mail address lizings@nordea.com.
  • You can sign a standing order agreement with the bank on automatic payment of invoices from your bank account.
  • Monthly instalment consists of a payment of the principal amount and an interest payment.
  • Interest rate will be determined depending on your customer status at Nordea Bank. For example, a Gold Customer qualifies for lower interest rates compared to rates applied to a Silver Customer.

Lease Terms

  • The seller must be an authorised car dealer. 
  • Leasing period is 6 to 60 months.
  • Down payment starting from 10%.
  • Interest rates: fixed or variable.
  • Minimum lease amount: EUR 5000.00.
  • Lease currency: EUR.
  • Fee for arranging the formalities: up to 1.5% of the price of the lease object incl. VAT (minimum EUR 169.40 incl. VAT).
  • Nordea Finance Latvia can arrange both the Motor Third Party Liability Insurance (OCTA) and Comprehensive Motor Vehicle Insurance (KASKO).

 

Criteria for Making the Decision on Granting the Lease:

  • The applicant must be at least 21 years old.
  • The applicant must have regular, sufficient and verifiable income.
  • Applicant's debt liabilities at Nordea and other banks, such as credit card credit limit, consumer credit, etc.
  • The applicant must have a positive credit history.

 

Required documents

  • Completed application in Nordea Netbank under the tab Applications or printed and completed application form.
  • Employer's statement on income for last 6 months. Nordea customers, who receive their salary on the account at Nordea, are exempt from submitting this statement.
  • Statement from the State Revenue Service on income, if the financed amount exceeds or equals EUR 36000.00.
  • In case of purchase of a used car, its valuation is required.
  • Offer or invoice issued by the seller of the lease object.
  • Copy of your passport or ID card.