Vehicles

Nordea car lease is a convenient and flexible solution if you want to own a beautiful car or get a vehicle for practical purposes. Now you can have the car of your dreams!

Nordea Leasing has a range of solutions to help you buy a new vehicle.
Leasing a car is simple:

  • Choose the vehicle that you want and the type of lease.

The type of lease you should choose depends a lot on whether you only want to use the vehicle over an agreed period, or whether you want to own it when the lease period ends. You can read more about the lease conditions here.

  • Fill in a lease application and submit it together with the required documents to Nordea.
  • We will make you an offer and if you accept it, we will sign a lease contract with you.
  • After you have made the first payment and paid the contract fee, the seller of the vehicle will hand the car over to you and you can start driving it straight away.

If you want to know approximately how much your lease payments will be, you can use the lease calculator.

If you choose an operational lease, Nordea Leasing will buy the vehicle of your choice and you can use it for an agreed time in exchange for lease payments.

An operational lease is right for you if you are not sure whether you want to buy the vehicle at its residual value when the lease ends, or whether you want to sell it to another buyer. For this reason the residual value that the car will have by the end of the lease is the last payment in the schedule of the lease payments.

When the lease ends you can:

  • Continue using the car by renewing the lease contract (unless the car is too old)
  • Replace the old car with a new one by choosing a new car for yourself and finding a buyer for the old one
  • Become the owner of the vehicle by paying the residual value to Nordea Leasing


If you return the vehicle to Nordea Leasing, it has to be in good condition and its wear and tear must comply with the guidelines for identifying a vehicle's normal wear and tear (in Estonian).

You can learn more about the general conditions of an operational lease contractPDF.

 

If you choose a  financial lease, Nordea Leasing will buy the car of your choice and you can use it for an agreed time in exchange for lease payments. If you have fulfilled the contract, you will become the owner of the car when the lease ends.

A financial lease is the right option for you if you want to own the leased car when the lease ends.

If you want your monthly lease payments to be smaller or to extend your lease contract when it ends, you can do this by making one larger additional payment at the end of the lease period.

You will become the owner of the car after you have made the last lease payment.

You can learn more about the general conditions of a financial lease contractPDF.

 

Instalment payments is a form of financial lease that is used if no VAT is added to the purchase price of a vehicle. Such vehicles are usually second-hand and are sold without VAT by private individuals.
If you want to make smaller lease payments or intend to extend your lease contract when it ends, you can do this by making one larger additional payment at the end of the lease period.

You can learn more about the general conditions of a financial lease contract.

You can lease a new or a second-hand vehicle, and can choose between a car and a commercial vehicle.

  • When the lease contract ends, the vehicle may not be more than 13 years old .
  • The first payment must be for at least 10% of the vehicle's value.
  • The interest rate of a lease can be floating and tied to the three-month or six-month Euribor with an added margin. You can also choose a fixed interest rate for the whole period of the contract.
  • Leases can be for up to 60 months.
  • You need to insure the vehicle throughout the whole of the lease with an insurance company accepted by Nordea (in Estonian).

 

Requirements for applicants
  • You must be at least 23 years old, and be an Estonian citizen or have a long-term residence permit in Estonia.
  • You must have had a secure job and a stable income for at least six months.
  • Your monthly lease and other loan payments may not exceed 40% of your or your family's income.
  • You can apply for a lease together with your spouse or partner, who must guarantee that you will fulfil your obligations under the lease. In this case we will consider your joint income and debts.
  • If you are younger than 23 or older than 65, you will need someone to provide surety who is a member of your household and who is accepted by the lessor.

Documents required for a lease application

  • An application that you can submit either electronically (in Estonian)  or on paperPDF.
  • A statement from your bank account for the last six months. The statement must be complete and it has to show all withdrawals and deposits made over the six months. If your income is transferred to Nordea Bank in Estonia, you do not have to submit the account statement.
  • An offer to sell a vehicle.
  • For a second-hand vehicle, a valuation report from a partner accepted by Nordea Leasing
  •  If the vehicle is coming from abroad, you need to submit the original purchase and sale contract and the payment order proving that the purchase price has been paid in full. You do not need to submit these documents if your vehicle has been registered in the Estonian traffic register for at least 3 months.
 

  • When you negotiate the terms and conditions of a lease contract you can choose whether to sign it at a bank office (in Estonian), digitally with your ID-card, or at a car dealership (in Estonian)  that is a partner of Nordea Leasing.
  • It is important that everybody concerned sign the contract in the same form. So if one of them cannot sign the contract digitally, then all the others need to sign it physically on paper.

 

NB! Starting from 1th of February 2017 Nordea bank's price list will be changed. Familiarize with price lists.Opens new window

LEASES
Fees for signing lease contracts VAT added Rate and fee
Contract fee for a car or a commercial vehicle NO 1 % of the purchase cost min 190 €**
Fees for amending lease contracts

Amendments to a lease contract:

  • Changing the type of contract
  • Changing the lease period
  • Changing the type of payment schedule
  • Making an additional down-payment
  • Transferring the contract to another lessee
NO

 

150 €

Changing the payment date in the contract's payment schedule NO 50 €, first change is free of charge
Changing the obligation to insure the leased asset in the terms and conditions of a lease contract NO 50 €
Changing other terms and conditions of a lease contract (including changing the base rate of a lease contract with a floating interest rate) NO 50 €
Early termination of a lease contract, selling a leased asset at a higher price

Termination of a lease contract for lease contracts that were signed before 1 July 2011 

  • Termination of a lease contract within 9 months of entry into contract
  • Termination of a lease contract after 9 months of entry into contract
NO

 

  • Interest for the first 9 months (inclusive) of the lease contract
  • Interest for the current month
Termination of a lease contract 
for lease contracts that were signed after 1 July 2011
NO As set out in the lease contract
Sale of an asset at a higher price than its residual value NO 50 €
Other services
Drawing up an unattested authorisation YES

10 € (12 € including VAT)

Drawing up a notarised authorisation (including the notary fee and state fees)

  • Issuing a permission to use a vehicle or to make transactions in the traffic register in the standard 3 working days
  • Issuing an urgent permission to use a vehicle or to make transactions in the traffic register in 1 working day
YES
  • 100 € (120 € including VAT)
  • 150 € (180 € including VAT)

Fuel credit card administration fee 

  • Card with a credit limit of 100
  • Card with a credit limit of 200
  • Card with a credit limit of 300
NO

 

  • 1 € per calendar month
  • 2 € per calendar month
  • 3 € per calendar month
Issuance of fuel credit card statement YES 2.50 € (3 € including VAT)
Issuing a written statement that confirms the right to sub-lease a leased asset YES 25 € (30 € including VAT)
Issuance of confirmation letter (certificate) YES 5 € (6 € including VAT)
Release of the additional collateral of a lease contract YES 50 € (60 € including VAT)
Paying state and local taxes and parking fines YES 25 € (30 € including VAT) per claim plus actual costs incurred by the lease company (VAT is added only to the administration fee)
Breach of a contractual insurance obligation NO The contractual penalty set out in the contract
Compensation of sending notification to a lessee of overdue payments or other obligation that is overdue NO 5 €
Signing a debt agreement NO 150 €
Restoring a prematurely cancelled contract NO 190 €
Sale of an asset following early termination of a lease contract YES 200 € (240 € including VAT) plus actual costs
Issuing an extract of contractual lease settlements and a copy of a bill at the lessee's request YES 5 € (6 € including VAT)
Issuing a statement to confirm a client's debt or the balance of the unpaid residual value at the lessee's request YES Free
Registration of ownership in Road Administration e-service to the new owner who is not contractual party to the Nordea Finance  YES 50 € (60 € including VAT) state fees will be added
Registration of the asset in Road Administration e-service in the name of the Nordea Finance by the employee of the lessor YES 50 € (60 € including VAT) state fees will be added

** Private customers - When applying leasing form Nordea office discount for Gold customers is 30% and for Silver customers 15%.

Leasing customer service 1782
Telephone: 1782
From abroad: + 372 7 101 300
Fax: + 7 101 301
Email: 1782@nordea.com
Mon–Fri 09.00–17.00
General contacts for Nordea Leasing
Nordea Finance Estonia AS
Liivalaia 45, 10145 Tallinn
Telephone: +372 7 101 300
Fax: +372 7 101 301
Email: 1782@nordea.com
Current accounts for paying lease bills
Current account in Estonia
Payee: AS Nordea Finance Estonia
EUR current account no.: 17000019152
IBAN: EE611700017000019152