Car Lease

Travelling between work and your home, trips to see friends, the countryside and the beach – shorter and longer drives can be among the brightest moments of everyday life. To make these moments more memorable and make the driving seem smoother, a good attitude and a suitable vehicle are sometimes all you need.

Leasing a car is simple

• Select the vehicle you want and the preferred type of lease.
• Fill out a leasing application.
• Submit the necessary documents along with the filled-out application.
• We will make you an offer
• We will sign a leasing agreement
• You make the first payment and pay the signing fee
• The vehicle seller will give you the keys to the vehicle and you can get behind the wheel

Documents you need to apply for car leasing

• Leasing application
• Vehicle sales offer
• Bank account statement for the last six months
• Copy of passport or ID card
• If the vehicle is a used car, a valuation report from a Nordea Leasing partner is required

General terms and conditions

• Stable income
• The first instalment must be at least 10% of the price of the car
• Interest is the 6-month Euribor + margin
• The monthly leasing payment along with other existing obligations should not exceed one-third of the family income
• The leased car may be new or used, either a passenger or utility vehicle
• Leasing period up to 60 months
• The car may not be more than 9 years old at the end of the leasing period
• Car insurance from an insurance provider accepted by Nordea is compulsory throughout the leasing period

Three options for leasing a car

Which type of car leasing should you pick? It depends on your preferences and how you see the car’s future: whether you would like only to use the car for a set period or whether you would like to become the owner of the vehicle after the end of the leasing period.

Operating lease

Operating lease is the right option when you only want to use the vehicle and do not intend to end up owning the car.

When you opt for an operating lease, Nordea Leasing will buy the vehicle chosen by you and grant it into your use for an agreed-upon period. You will make leasing payments to Nordea Leasing for use of the vehicle.
When the leasing period ends, you have the following options:

• Continuing to use the vehicle, by extending the leasing agreement (if the age of the vehicle allows this)
• Exchanging the vehicle for a new one, selecting a new car to your liking and finding a buyer for the old vehicle
• Becoming the owner of the vehicle, paying off the residual value of the vehicle to Nordea Leasing

No VAT is charged on the interest or the signing fee.

 Operating lease application

Finance lease

A finance lease is the right option when you want to become the vehicle owner at the end of the leasing period.

When you opt for a finance lease, Nordea Leasing will buy the vehicle chosen by you and grant it into your use for an agreed-upon period. You will make leasing payments to Nordea Leasing for use of the vehicle. After you make the final leasing payment, you will gain ownership rights to the vehicle.

If you would like your leasing payments to be lower or if you would like to extend the leasing agreement at the end of the period, you can leave one larger lease payment to be made at the end of the period.

 Finance lease application

Hire purchase

Obtaining a car on Hire purchase terms is like a finance lease, with the difference being that the vehicle purchase price does not include VAT. In general, such vehicles are used cars sold by individuals, which are bought and sold later without VAT. In addition to the Hire purchase of the purchase price, VAT is not charged on interest payments or the signing fee.

 Application for deferred payment

Additional services

Besides financing a vehicle, you can use Nordea Leasing to buy motor third party liability insurance and comprehensive insurance as well as a credit card that provides you with discounts on fuel.

Set up a direct deposit

To make life even simpler, set up a direct deposit agreement and your leasing payments will be sent to Nordea automatically. Visit the Requisite Information page for the account numbers you need to set up a direct deposit arrangement.