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Car leasing

Car leasing

You can buy a car quickly and conveniently

  • You choose the main terms (down payment, term of lease, payment method) according to your needs and possibilities
  • We help you to buy the property of your choice and handle the purchase documentation

The financial leasing or operational leasing service enables you to replenish your car fleet with new or second-hand commercial or non-commercial passenger cars.

Cars purchased on lease

Buying on lease is available for commercial (class N1*) or non-commercial (class M1*) vehicles:

  • with technically permissible total weight (of a loaded vehicle) not higher than 3,500 kg
  • with not more than 8 passenger seats and one driver seat

* According to the applicable EU classification.

Financing options: financial leasing and operational leasing

Financial leasing

You can buy a car once you have signed a financial lease agreement. Under this agreement payments can be made in two ways:

  • For a defined fee you can use the car for the agreed term and once you have paid the total price for the car in equal periodic instalments, including interest, over that period and fulfilled other terms of the lease agreement, you become the car’s owner
  • Payment of a large portion of the car’s price is postponed — you’ll have to pay this part of the price together with the last instalment, paying only small instalments and interest on the outstanding amount of the car’s price (residual value) over the whole term of lease.

In both cases the purchased property is included in the company’s balance sheet and is subject to depreciation.

Benefits to financial leasing
  • You can use property before you pay the whole price.
  • You can manage your finances efficiently as you have more working capital, which can be redirected to your other needs.
  • You choose the term of meeting your liabilities as well as the level of down payment and periodic instalments.
  • You don’t need an additional pledge of your property because the property you buy is treated as a collateral.

Operational leasing

When you sign an operational lease agreement, for the defined term you are using the vehicle of your choice and pay the lease. Once the agreement has expired, you can either:

  • return the vehicle to the leasing company
  • buy the vehicle

The lease you pay to the leasing company is included in the company’s costs.

Benefits to operational leasing
  • Simple accounting — you don’t buy additional property while leased property is recorded on the company’s accounts, so the lease is the only costs for your company.
  • You use property without buying it, which means you don’t incur depreciation costs or have trouble selling the property after the lease expires.
  • Maintenance costs don’t change over the whole lease as all insurance and operation costs are broken down into equal monthly payments, treated as operational expenses (you pay to one company once monthly).
  • You have additional access to car repair services, whose VAT is included in the VAT invoice, so you don’t incur related administration (contract renewal, settlement, etc.) expenses and can foresee property operation costs with a high degree of accuracy.
  • It is convenient to renew property because once your lease expires, used property can be returned to the leasing company and replaced with new property.

Regular terms of the lease agreement

For new cars For second-hand cars*

Lease term:

  • up to 7 years for financial leasing
  • up to 5 years for operational leasing
  • For financial leasing, the car may not be older than 13 years at the end of the lease term.
  • For operational leasing, the car may not be older than 7 years at the end of the lease term.
Down payment (deposit) starts from 10% of the car’s market price.
Interest is set after reviewing your solvency. To get a leasing offer, please complete an application:

Lease application (XLS, 309 KB, in Lithuanian)

The residual value of property at the end of the lease term is established after an analysis of the leasing deal (property, down payment, term and other conditions).
You need to get CASCO (Casualty and Collision) insurance coverage for the car you are buying on lease from an insurance company acceptable to SEB Bank. The leasing plus insurance services saves you time and money because we and the insurance company will take care of your car insurance.
Repurchase guarantee (compulsory for operational leasing).

* A second-hand car must be in good technical shape and meet the natural depreciation requirements for property.

Requirements for the company

  • Continuous business operations and clear future plans
  • Good financial results – you must have sufficient funds both to develop business and to meet financial liabilities

For more information about leasing, operational leasing or related services, terms and rates please call our 24/7 line +370 5 268 2822 or visit a SEB bank unit of your choice.

Fees for arranging documentation of a lease agreement
Leasing agreement fee 1% of the asset value, but not less than EUR 150
Additional fee for drawing up an agreement (finance lease, operating lease, purchase and sale, repurchase, etc.) in the English language. 150 Eur
Change of the debt roll-over agreement / leasing agreement term 1% of the outstanding asset value, but not less than EUR 150
Agreement amendment or payment schedule change at the customer’s initiative fee or resumption of an agreement EUR 100.00
Change of the leasing payments date EUR 30
Agreement termination and sale of assets fees in the event of termination or expiry of a finance lease or an operational lease agreement
Agreement termination fee 1.5 per cent of the residual value, but not less than EUR 150
Sale of assets to the lessee (in case termination or expiry of an operating lease agreement) EUR 300
Sale of assets to the repurchase entity (in case of termination of an operating lease or a finance lease agreement) EUR 300
Sale of assets to a third party in Lithuania 1.5 per cent of the residual value, but not less than EUR  300
Sale of assets to a third party outside Lithuania or sale of assets in case of complete damage 1.5 per cent of the residual value, but not less than EUR  500
Certificate issue and other fees
Drawing up of additional documents (sublease, lease, access and other consents, official letters, authorisations, document copies, statements of annual turnover,  etc.) or reissue of previously drawn up documents at customer’s request EUR 20.00
Handling of administrative penalty documents as well as other documents received in customer’s name EUR 10 per each document received
  • International money transfer charges if payment for the customer’s property is being made: to another country; in a foreign currency to another bank in Lithuania; under an urgent payment order
  • Real estate tax
  • Guarantees
  • Mortgage fees (including when a car is pledged)
compensated by the customer

 


For more information about leasing, operational leasing or related services, terms and rates please call our 24/7 line +370 5 268 2822 or visit a SEB bank unit of your choice.

You need to get CASCO (Casualty and Collision) insurance coverage for the car you are buying on lease from an insurance company acceptable to AB SEB bank.

Requirements for property insurance

  • The insured sum may not be lower than the vehicle’s market price.
  • Deductible (the part of loss which is not indemnified by the insurance company) in the event of theft is not more than 20% of loss and the unconditional deductible is not more than EUR 900.
  • The beneficiary is SEB Bank.
  • Standard terms of the Casualty and Collision (CASCO) insurance.

We suggest you choose the leasing plus insurance service, which saves you time and money because we and the insurance company will take care of your insurance.


For more information about leasing, operational leasing or related services, terms and rates please call our 24/7 line +370 5 268 2822 or visit a SEB bank unit of your choice.

You must take care that for the entire lease period the purchased car or other property is in good technical shape and of the same level of delivery (including all accessories) as it was on the date of signing the agreement and that its condition meets the natural depreciation requirements for property.

What are not the effects of natural depreciation?

  • Damaged geometry of the body, broken, misshapen or otherwise mechanically or thermally damaged parts
  • Non-operational devices and mechanisms
  • Depression of the body, crack of the paint coating and a deep scratch (if the paint coating is damaged down to the undercoat)
  • Wear of the paint coating caused by inappropriate wash and/or cleaning
  • Defects caused by poor-quality repair
  • Fracture of the body glass
  • Abrasion of the body glass caused by inappropriate use and/or cleaning
  • Faults in the passenger compartment, e.g. seats are with burning marks or soiled, the plastic parts of the front dashboard or the inner trunk lid, the window opening handles are broken, etc.

For more information about leasing, operational leasing or related services, terms and rates please call our 24/7 line +370 5 268 2822 or visit a SEB bank unit of your choice.

Choose a car, obtain a sales offer from the seller and file a completed lease application and other below-listed documents at a SEB bank unit of your choice.

List of required documents

  • Sales offer prepared and signed by the car seller
  • Lease application (XLS, 308 KB, in Lithuanian)
  • Personal identity document (passport of a Lithuanian national or personal identity card) of the head of the company or person authorised to sign the agreement
  • The company’s certificate of incorporation, memorandum of association (for partnerships and cooperatives) and articles of association
  • Copies of balance sheets and profit and loss accounts for the previous economic year and for the last reporting period, approved by the head of the company
  • For second-hand cars, a document prepared by its seller which describes the condition of the car, or a technical inspection protocol approved by UAB Tuvlita
  • Additional documents (on request)

For more information about leasing, operational leasing or related services, terms and rates please call our 24/7 line +370 5 268 2822 or visit a SEB bank unit of your choice.

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