Leasing is the lease of a motor vehicle or equipment with the rights of repurchase. In case of leasing, you obtain the rights to use the car and pay for its lease, but the car owner until the end of car repurchase period is the leasing company. For the purchase of a car, Swedbank offers several types of leasing financial, operative leasing and a loan.

You have the possibility to sign a car leasing for a period of up to 6 years (in financial leasing) and up to 5 years (in operative leasing). At the end of the leasing term, the age of the car may not exceed 15 years.

Car leasing can be formed for people from the age of 18.

If all the necessary documents have been supplied by you, then the reply about leasing opportunities will be given within one business day.

If you apply for leasing via Internet banking page, then the reply about leasing opportunities will be given within couple of hours.

The interest rate in each case of leasing is fixed individually, which arises from the age of your selected car and its value, as well as the first installment, which you pay for this car. In addition, your credit history is taken into account, as well as the leasing period and currency. A lower interest rate is also offered in cases where you are a Swedbank client, or if you in Swedbank buy a car through leasing repeatedly.

Upon signing the leasing agreement, the money will be transferred after signing of the agreement and re-registration of the car with the Road Traffic Safety Department within one business day.

You will be able to drive the car after the car is re-registered with the Road Traffic Safety Department. It should be taken into account that it should also be agreed in time with the car seller because maybe it is necessary to install additional equipment in the car.

When submitting a car leasing application, you should pay a single fee of agreement, expenses for preparation of the car evaluation act, insurance expenses and expenses connected with re-registration of the car.

Yes. At the dealer, you can buy a new and used car; ask about car offers at the partners. In this case the car evaluation will not be necessary for receipt of leasing.

CASCO insurance is not compulsory if your car financed amount is up to LVL 3000.

The price of CASCO insurance depends on many factors. The insurance premium is calculated as a certain percentage of the value of the motor vehicle, which is influenced by: the insurance cover for what risks the motor vehicle is insured, the chosen own risk loss amount, which is covered by the client (the higher the own risk, the less will be the cost of the insurance policy), the make of the motor vehicle, model, age of the motor vehicle, type of use of the motor vehicle for private trips, passenger or cargo conveyance and other factors. The interest rate may fluctuate from 3 to 14% from the value of the motor vehicle depending on the above mentioned factors. In order to decrease your monthly expences, we offer you to formalize a supplementary leasing service Car Insurance provided by Swedbank. Car Insurance can be obtained at any Swedbank branch in Latvia.

The Power of Attorney can be formed within 1 business day. For the purposes of ordering the Power of Attorney, You can complete an application on-line. The Power of Attorney can be received in any Swedbank branch in Latvia.

Applying for partially paying off your leasing requires that your current account at Swedbank has a sufficient balance in the amount of the necessary sum. In the Internet Banking site's section "Write message to bank", select topic "Car leasing", enter your instructions about the required changes and specify the necessary changes in the schedule.

Starting with the fourth business day after the date of the last lease payment on the schedule and payment of the last lease payment or after receiving and paying the final invoice (in case of early repayment), you can go to any department of the CSDD (Ceļu Satiksmes Drošības Direkcija or Road Traffic Safety Directorate) and re-register the car in your own name.

You will be notified by a text message to your phone about when you can re-register the car. You won't need to present any proof of performance of your obligations under the lease agreement as the information will already be delivered to the CSDD

Yes. If the car is formed as financial or operative leasing, then it is possible to transfer the leasing liabilities.

If the car is formed on the loan agreement, then transfer of liabilities is not possible, the car should be bought. After repurchase of the car, the new owner can apply for receipt of leasing.

To assign your lease contract obligations to other person, you must complete the Application on assignment of lease obligations.

When signing the loan agreement, the lessee and car owner should be one and the same person.

When choosing financial or operative leasing, there is a possibility to sign a sublease agreement on the transfer of the car to a third person. In order to sign a sublease agreement, Swedbank will issue to you as the lessee a permit to sign the sublease agreement and you prepare and sign the sublease agreement with the person to whom you will transfer the car.

If the documents are stolen or lost, then a Power of Attorney is issued by Swedbank. You can obtain it at any Swedbank branch in Latvia. After receipt of the Power of Attorney, you go to the Road Traffic Safety Department where the documents will be renewed.

1. Call the police or fill out the report of traffic accident;
2. File a claim to the insurer;
3. File an application on the insured event to Swedbank.

The insurance company will inspect the vehicle and evaluate the damages. In the claim, you specify the way you want to receive the insurance payment, and the insurer will determine the damage and approve the repair cost estimate or pay out the insurance. The insurer will pay the insurance when a confirmation from Swedbank is received.

For further information, please contact your insurer.