Full Service Car Lease

A full service car lease is an easy-to-use service enabling to finance expenses related to the use and maintenance of a car together with or separately from monthly car lease payments, receiving one consolidated invoice for these costs.

The full service car lease relieves company employees of having to deal with problems related to the use and maintenance of car, thus being able to put all their energies into performing their direct duties.

Full Service Car Lease:

• saves what is of the biggest value in business world – time, money and energy
• enables accurate planning of monthly car maintenance costs for up to 5 years ahead
• lets you know the exact amount of monthly expenses during the car lease period
• lets you avoid any unexpected leaps in expenses such as for winter or summer tyres, cost of technical maintenance, or full coverage car insurance. You cover the expenses in evenly distributed all-inclusive monthly payments.
• gives you Swedbank Corporate Car Lease Department customer discounts from our cooperation partners.
• Swedbank takes upon itself the care for your car and administration of the costs.

Take advantage of the convenience and gains that full service car lease offers! Just one call and it’s all settled.

Options

We offer finance and operating lease (car rental) for cars.

Finance Lease

The client covers the whole value of the car during the leasing period by monthly instalments and eventually becomes its owner.

Operating Lease

The client covers a partial value of the car during the lease period by monthly instalments. The vehicle is made available to the customer for use / rent up to a specific date. Upon expiration of the agreement, the client has an option to: extend the lease agreement (to pay the residual value of the car), to exercise his first option to buy at a residual value agreed beforehand, to transfer his right of first refusal to another third party, or to return the car to the rebuyer.

The transaction is liable to 21% VAT. The amount of the input tax is presented by the customer gradually, according to the VAT value of the monthly payment.

Optional full service lease services and costs

• 24 hour assistance service
• Administration of insured events
• Administration of maintenance and repairs
• Administration of the cost of maintenance and repairs
• Storage and replacement of tyres
• Replacement vehicle
• Delivery service
• Full delivery service

Foreseeable expenses that may be included in lease payments

• Full coverage car insurance (CASCO)
• Third party liability insurance
• Annual roadworthiness test
• Annual motor vehicle duty
• Vehicle registration with the Road Traffic Safety Directorate
• Washing the body and cleaning the interior of a vehicle
• Cost of technical maintenances
• Winter or summer tyres
• Accident insurance
• Fuel card (Neste, Statoil)
• Traffic accident set (fire extinguisher, first aid kit, triangle)
• Transportation of vehicle
• Parking
• CityCredit parking service

Terms & Conditions

• Period of lease – from 3 months to 84 months
• The age of the vehicle may not exceed 7 years at the end of lease period
• Fixed and variable interest rates in LVL, USD or EUR currency
• The minimum price of the vehicle in case of finance or operating lease – from 5 000 LVL (excl. VAT).

Required documents

• Full Service Car Leasing Application for Legal Entity
• Company profile
• Specification of the car intended for purchase
• Copy of registration certificate of the company and taxpayer certificate
• Latest audited annual report
• Last quarterly operating balance sheet, and profit or loss account
• Other documents required for processing the deal – as requested by project manager

Steps involved in formalizing a lease

• Submitting the necessary documents to Swedbank
• Agreeing on the terms and conditions of lease
• Agreeing with the car seller on receiving the property
• The leasing company prepares the contract and you arrange a time convenient for signing
• Payment of first instalment (deposit) to Swedbank
• Receiving your car

Advantages for customers

• Fast and straightforward reviewing of projects
• Professional consultancy within framework of finance projects
• Easy payment of bills through Direct Debit service

Forms

• Full Service Car Leasing Application for Legal Entity
• Service Works Application
• Road Traffic Accident Application
• Application (in free form)
• Application on Change in Contact Information
• Schedule Change Application
• Application for Receiving Power of Attorney for Departure
• Application for the Transition of Contractual Obligations
• Application on Performance of Obligations under Leasing/Lease Agreement

CONTACTS

Customer service line 67444883

Project managers:

• Madars Vārna
  madars.varna@swedbank.lv, tālr. 67 444 906