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Car leasing

Car leasing

A convenient way of buying a car

  • You choose the basic financing terms according to your possibilities
  • We'll help you handle the required documentation to buy the car
  • You can file your application online or at the car showroom

Pick a new or second-hand car: we can provide leasing when buying a car not only from SEB bank partners, but also from private individuals or companies. If you plan to sell your car, your buyer may also be able to take advantage of this service. File us a lease application, sign an agreement and pay just a small part of the car price (down payment) to be able to drive the car immediately. You have the opportunity to choose the amount of down payment, the lease period and the method of making your periodic payments.

Basic requirements

For the car For the buyer

You can buy a M1* or N1** category (according to the valid EU classification) vehicle:

  • the highest permissible weight of the car must not exceed 3,500 kg
  • the car may have not more than 8 passenger seats and one driver seat

* The purchased vehicle may not be used to earn profit from rent, freight transport, carriage of passengers, driving instruction and similar activities.

** The purchased vehicle is intended to be used to earn profit from rent, freight transport, carriage of passengers, driving instruction and similar activities.

Car leasing is available to any national of Lithuania or any individual with a residence permit in Lithuania for the entire period of the lease agreement if:
  • he or she is at least 18 years of age
  • he or she receives regular income
  • his or her total amount of monthly payments to different credit institutions does not exceed 40% of monthly income (based on the Responsible Borrowing Regulations of the Bank of Lithuania)

Financing methods

You can buy the car once you have signed a lease (hire-purchase) agreement. Under this agreement payments can be made in two ways:

  • The payment may be broken down in equal portions and spread over the whole lease period
  • Payment of the larger portion of the car's fixed price (residual value) may be postponed. This portion is paid with the last payment while over the whole period small regular payments plus interest calculated from the non-repaid price of the car are paid

Example

Main contractual terms and conditions Financial leasing Financial leasing when payment of residual value is postponed
Car price including VAT EUR 15,000 EUR 15,000
Down payment (20%) EUR 3,000 EUR 3,000
Residual value of the car 0% 20%*
Annual interest 3.5 + 6-month EURIBOR 3.5 + 6-month EURIBOR
Agreement preparation and administration fee EUR 150 EUR 150
Lease agreement period 5 years 5 years
Monthly instalment EUR 218.30 EUR 172.48*

* The residual value is paid together with the last lease payment. Extending the lease agreement is also available.

This is an example only. SEB Bank does not assume the obligation to finance on these terms.

Regular terms of the lease agreement

When you buy a new car When you buy a second-hand car*
Lease period is up to 7 years. The car may not be older than 13 years at the end of the lease period.
Down payment starts from 10% of car price.
We'll set the one-time agreement preparation and administration fee and interest after reviewing your solvency status.
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. Choose the leasing plus insurance service so that we and the insurance company can take care of your car insurance. This saves you time and money.

* We finance cars sold by SEB partners. A second-hand car must be in good technical shape and meet the natural depreciation requirements for property.

Example of calculating the annual percentage rate of charge

Say, you are getting a lease on a car priced at EUR 17,377.20 / LTL 60,000 and you pay the car seller a down payment of EUR 3,475.44 / LTL 12,000. In this case the loan available from the leasing company would be EUR 13,901.76 / LTL 48,000. The total amount payable by the consumer (total cost including interest over the lease period and the agreement preparation and administration fee) would be EUR 15,194.05 / LTL 52,462.

The amount was calculated on 10 October 2012 assuming that the lease period is 5 years, the loan is in euros and the variable interest annual rate is 3.39%. (applies to borrowers with a low risk based on the risk evaluation methodology for natural persons of the SEB Bank). The annual percentage rate of charge would be 3.63%.

For more information about leasing and related services, terms or rates please call our 24/7 line 1528 or visit a SEB bank unit of your choice.


We recommend that before you sign any financial service agreement you read the service terms carefully and consult the staff of the bank if you need to.

Please note that the total amount of your monthly payments to different credit institutions may not exceed 40% of your total monthly net income. Failing on your financial liabilities, you increase the cost of the financing services you are using, which may negatively affect your credit history. If your financing agreement is cancelled for the reason that you have breached its terms, you can lose not only what you have already paid, but also your title to the property that you bought on lease or for a loan.

Leasing agreement administration and amendment fees
Leasing agreement fee 1% of the asset value, but not less than EUR 150, if applied on-line
1% of the asset value, but not less than EUR 250, if applied at bank
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 EUR 100.00
Change of the leasing payments date EUR 30
Fee for covering part of the asset residual value agreement-based
Property early redemption / agreement termination charges
For early termination / redemption of agreement agreement-based
For early termination of agreement where property is being transferred to a third party EUR 100.00
Resumption of a leasing agreement validity or redemption under a terminated agreement EUR 100.00
Property sale fees upon termination of a financial lease agreement
Sale of property to a third party in Lithuania 1.5 %, but at least EUR 150.00
Sale of property to a third party outside Lithuania 1.5 % of residual value, but at least EUR 300.00
Certificate issue and other fees
Consent for sublease/lending, if it was not issued at the time of entry into the leasing agreement EUR 30.00
Reissuance of a Acceptance and Transfer Certificate or of an authorisation EUR 10.00
Drafting of authorisations / certifications in Lithuanian EUR 15.00
Drafting of authorisations / certifications in English EUR 20.00
Generating a customer’s annual revenue report EUR 20.00
Mailing of VAT invoices EUR 3.00
Fee for issuing copies of a leasing agreement documentation EUR 10.00
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
  • Transportation, customs and similar expenses
  • Mortgage fees (including when a car is pledged)
  • Express mail (e.g. DHL Lietuva) costs
compensated by the customer

 

For more information about leasing and related services, terms or rates please call our 24/7 line 1528 or visit a SEB bank unit of your choice.


We recommend that before you sign any financial service agreement you read the service terms carefully and consult the staff of the bank if you need to.

Please note that the total amount of your monthly payments to different credit institutions may not exceed 40% of your total monthly net income. Failing on your financial liabilities, you increase the cost of the financing services you are using, which may negatively affect your credit history. If your financing agreement is cancelled for the reason that you have breached its terms, you can lose not only what you have already paid, but also your title to the property that you bought on lease or for a loan.

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 868.86 / LTL 3,000.
  • 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 and related services, terms or rates please call our 24/7 line 1528 or visit a SEB bank unit of your choice.


We recommend that before you sign any financial service agreement you read the service terms carefully and consult the staff of the bank if you need to.

Please note that the total amount of your monthly payments to different credit institutions may not exceed 40% of your total monthly net income. Failing on your financial liabilities, you increase the cost of the financing services you are using, which may negatively affect your credit history. If your financing agreement is cancelled for the reason that you have breached its terms, you can lose not only what you have already paid, but also your title to the property that you bought on lease or for a loan.

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 and related services, terms or rates please call our 24/7 line 1528 or visit a SEB bank unit of your choice.


We recommend that before you sign any financial service agreement you read the service terms carefully and consult the staff of the bank if you need to.

Please note that the total amount of your monthly payments to different credit institutions may not exceed 40% of your total monthly net income. Failing on your financial liabilities, you increase the cost of the financing services you are using, which may negatively affect your credit history. If your financing agreement is cancelled for the reason that you have breached its terms, you can lose not only what you have already paid, but also your title to the property that you bought on lease or for a loan.

Once you have picked a car, file a lease application

To file a lease application:

  • Log in to our banking web site
  • Visit any SEB bank unit
  • Visit the car sales point (on weekdays you get a financing offer right away and can sign a lease agreement)

List of required documentation when you buy on lease

  • Sales offer prepared and signed by the car seller
  • Your completed lease application
  • Personal identity documentation (passport of a Lithuanian national or personal identity card)
  • Income statement (on request)

For more information about leasing and related services, terms or rates please call our 24/7 line 1528 or visit a SEB bank unit of your choice.


We recommend that before you sign any financial service agreement you read the service terms carefully and consult the staff of the bank if you need to.

Please note that the total amount of your monthly payments to different credit institutions may not exceed 40% of your total monthly net income. Failing on your financial liabilities, you increase the cost of the financing services you are using, which may negatively affect your credit history. If your financing agreement is cancelled for the reason that you have breached its terms, you can lose not only what you have already paid, but also your title to the property that you bought on lease or for a loan.

Contact

  • Private customers
    1528 (24/7 line)
    Business customers
    19222 (I—V 8.00—17.00)
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