A sample reflecting the total costs of a borrowed funding under the operating lease:

Should you choose to purchase a car Toyota Auris produced in 2012, the selling price of which is EUR 22880.00, incl. a 21 % VAT, then concluding a operating lease agreement with Nordea Finance Latvia upon the following conditions:

  • The total funded amount is EUR 15127,27 without the VAT 21 %, which is 80% of the selling price. The total funded amount includes the residual value of the vehicle in amount 4727,27 EUR, without the VAT 21 %, which is 25 % of the selling price.
  • The down payment is EUR 4576.00, incl. the 21 % VAT, which is 20% of the selling price.
  • Maturity is 60 months.
  • The aggregate interest rate is 3.18%  (constituted by the mark-up rate of 3% and the base rate of 3 m EURIBOR, which was 0.18% on 17/12/2012, assuming it would remain unchanged throughout the agreement term).
  • The commitment fee for processing the lease agreement is EUR 343.20 incl. the 21 % VAT.
  • The VAT, which is payable with monthly payment, would remain unchanged throughout the agreement term.
  • You will not have to pay a costs of the registration of the vehicle in the Road Traffic Safety Directorate and the costs of the voluntary vehicle insurance.


  • Monthly payment would be EUR 242.28, incl. the 21 % VAT;
  • The total amount repaid on maturity of loan would be EUR 20600.24 (excluding the down payment and including the residual value) and
  • The annual interest rate would be 3.85%.

The calculation outlined in the sample was made on 19 December 2012.