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Vehicle leasing

Vehicle leasing

Car leasing quickly and conveniently

  • New and used cars and small commercial vehices
  • Professional support and administration
  • A good insurance offer

Leasing a vehicle is an easy way of purchasing the vehicles your company needs. We offer the option to lease new or used vehicles.

Lease conditions depend on the chosen vehicle and your payment ability. To get a personal lease offer, please submit a lease application.

Standard car leasing conditions of SEB
Type of lease

Financial lease

  • Suits you, if you want to become the owner of the vehicle at the end of lease
  • To reduce the monthly payment, it is possible to have larger bullet payment at the end of the lease
  • Suits for vehicles with 0% VAT rate (e.g. if sold by a private individual).
Operating lease
  • You do not have obligation to purchase the car at the end of the lease.
  • You may return the vehicle at the end of the lease term. The returned vehicle must be in proper condition, except for normal wear and tear. Please read the Instructions for Normal and Abnormal Wear and Tear (EST).
  • Generally involves  the seller's redemption obligation and the resulting restriction to mileage.
  • We offer operating lease primarily for leasing cars sold by the partners of SEB.
Downpayment starting from 10% of the cost of vehicle
Lease period in months 12 24 36 48 60 72 84
Maximum residual value upon expiry of financial lease 65% 55% 45% 35% 30% 20% 0%
upon expiry of operating lease* 60% 50% 40% 30% 25% 15% -
Interest rate The interest rate of leasing is tied to the European Interbank Offered Rate, Euribor. It is possible to choose the Euribor rate changing either every 3 or every 6 months. A client-based interest margin will be added to the value of Euribor. Your personal offered interest margin considers your solvency, age of the selected car and liquidity, and possible campaign offers. To get a personal offer, please submit a lease application.
Contract fee

Ask for a personal lease offer.
Starting from 1% of the acquisition cost of the lease item, min €225.

Lease payment Approximate lease payment can be calculated with the help of lease calculator.

We offer the PZU motor own damage insurance and motor third party liability insurance with a possibility to pay the insurance premium together with monthly lease payment. Upon request, you can conclude the insurance contract with the insurer of your choice. The motor own damage insurance is mandatory throughout the lease period and must be concluded with the minimal deductible.

*depends also on the redemption obligation agreed with car dealer

Requirements for the vehicle
  • We offer car leasing for new and used vehicles, if:
    • The financed amount of the price exceeds 5,000 euros
    • The age of the car upon expiry of the lease period is less than 13 years
    • The mileage of the car at the moment of purchase is less than 250,000 km
  • If the car dealer is not a partner of SEB, a valuation report prepared by a partner of SEB is to be submitted
  • Before conclusion of the lease contract, the car must be registered with the regional office of the Road Administration.
  • The leased vehicle must have a valid motor own damage insurance cover throughout the lease period. The motor third party liability insurance is the responsibility of the lessee.

How to apply for leasing
Submit a leasing application once you have found a suitable vehicle. We recommend that you read SEB's terms and conditions of vehicle leasing before you submit an application.

There are several ways for submitting an application

You have to submit the following documents when applying:

  • an application in electronic format or on paper
  • audited annual report for the previous financial year
  • balance sheet and income statement that are not older than 120 days
  • Personal data sheet of surety, if you apply for a leasing together with the provider of surety
  • vehicle sale offer
  • valuation report and a copy of the certificate of registration if you are buying a vehicle and the seller is not our partner. The valuation report can be ordered from the official dealership of the relevant vehicle or from another vehicle leasing partner of SEB.

Entering into a leasing contract

  • You can choose whether you want to sign the leasing contract in the dealership that is a partner of SEB or at an SEB branch when you agree in the leasing terms and conditions with the Corporate Client Executive.
  • The seller has to come to the SEB branch to sign the sales contract if they are not a partner of SEB.

Collecting the vehicle

  • Pay the agreed down-payment and contract fee.
  • Register the vehicle in the name of AS SEB Liising. A seller who is a partner of SEB Liising registers the vehicle on your behalf. SEB Liising issues you with the power of attorney required for registration if you don't buy the vehicle from one of our partners.
  • Take out comprehensive and motor third party liability insurance. Go to Insurance for further information.

The Corporate Client executive gives you a delivery and receipt certificate for collection of the vehicle, which must be signed and returned to SEB Liising after you have collected the vehicle.

Service lease
We offer various services in addition to vehicle leasing with service lease.
Service lease is suitable for you if you would like to use your time and money rationally and want the costs associated with the vehicle to be known in advance and divided between the leasing payments.

Motor third party liability and comprehensive insurance
We make sure that the vehicle is covered with motor third party liability and comprehensive insurance from collection until the end of the leasing contract.
If you use the insurance service, the price of the motor third party liability and comprehensive insurance services will not change even if insurance companies change their prices.

Insured event handling
We represent you in handling your claim after an insured event. Inform us of all events within the required deadline by calling the 24 h service lease helpline. A representative of SEB will come to help you prepare the documents that need to be submitted to the insurance company, negotiate with the insurance company and agree in the terms and conditions of vehicle repairs.
The fee for the service is contained in the leasing payment and is fixed for the entire leasing period. We offer the 24 h vehicle breakdown service free of charge with the insured event handling service.

Maxi handling of an insured event
We represent you in handling your claim after an insured event. Extra benefits are added to insured event handling with Maxi handling: a representative of SEB will show the vehicle to the repair shop, take it in for repairs and collect it on your behalf.
The fee for the service is contained in the leasing payment and is fixed for the entire leasing period. We offer the 24 h vehicle breakdown service free of charge with the MAXI insured event handling service.

24 h breakdown service
The 24 h breakdown service guarantees that help arrives fast if your vehicle suffers a technical fault, you are involved in a crash or any other accident. Call the 24 h service lease helpline to inform us of the problem and your location. We will help you to find a suitable solution whilst considering the requirements of the manufacturer of the vehicle. We will transport the vehicle to the dealership or repair workshop on a trailer if necessary (the cost of transport in included in the price of the service).
You pay the service charge with your leasing payments.

Regular maintenance
We make an appointment for maintenance at a time that is suitable for the user of the vehicle and settle the cost of maintenance with the provider. The service allows you to benefit from the discounts offered to SEB. The cost of maintenance is divided between leasing payments until the agreed mileage is reached.

Change and storage of tyres
We arrange one seasonal change of both summer and winter tyres and tyre storage by the agreed service provider. Call the 24 h service lease helpline to book a tyre change and then take the vehicle to the tyre change workshop at the agreed time.
The cost of seasonal tyre changes and tyre storage is divided between leasing payments.

Arrangement of repairs
We arrange repairs that comply with the requirements established by the manufacturer in the event the vehicle is damaged, involved in an accident or suffers a technical fault.
The service allows you to benefit from the discounts offered to SEB. We add the cost of repairs to the subsequent leasing payment on the basis of the invoice submitted by the repair workshop.

Fuel card
We give you a fuel card with a monthly limit, which allows you to benefit from the discount offered to SEB when you buy fuel. We add the cost of the purchases made with the fuel credit card to the subsequent leasing payment.

Replacement car
We offer a replacement vehicle in the case of insured events, repairs and other occurrences when the obstacle that prevents you from using the vehicle lasts longer than 24 hours.
We generally provide the service within the territory of Tallinn. The cost of the service is divided between leasing payments.

Maxi service
The Maxi service suits you if you don’t have much time or you don’t want to communicate with service providers yourself. We do it all on your behalf and transport the vehicle from the agreed address to the maintenance, repair or tyre change workshop and back.
We generally provide the service within the territory of Tallinn. The cost of the service is divided between leasing payments.

A vehicle engaged in leasing must have a valid insurance cover. Both, the optional motor vehicle as well as motor third party liability insurance contracts must be concluded

Requirements for leased property insurance contract

  • The insurer must be an insurance company accepted by SEB.
  • The vehicle must be insured for an amount that is at least equal to market value during the entire leasing period.
  • The insurance contract must be entered into with the smallest excess permitted by the insurer.
  • AS SEB Liising must be noted as the beneficiary in the insurance contract.
  • The terms and conditions of the insurance contract must guarantee that indemnity is paid out in full in the event of theft of the property, fire or water damage, natural disaster, traffic accident and any other damages that may be caused by a loss event.
  • Insurance premium must be paid on time in accordance with the insurance contract.
  • Insurance contract must be concluded for a period of one year.
  • To prove the validity of the insurance, please submit a copy of the new insurance policy to SEB within five days prior to the end of the valid insurance policy, at the latest. You may send it to the e-mail address or fax it to 665 5103

Powers of attorney
Powers of attorney for use of the vehicle

  • The authorised user of the vehicle can request the following documents from SEB if their name does not appear on the vehicle’s registration certificate:
    • unattested power of attorney for driving the vehicle in the Republic of Estonia; and/or
    • notarised power of attorney for driving the vehicle abroad.
  • A notarised power of attorney is always required to drive the vehicle in CIS countries. You also have to take out an extra comprehensive insurance policy (if the exiting policy is not valid in CIS).

Powers of attorney for operations in the Traffic Register Bureau of the Road Administration (ARK)
The authorised user of the vehicle can request a power of attorney from SEB if they need to perform operations in the ARK (e.g. if they want to add users to the registration certificate or change them, need a new license plate, etc.).

How to apply for a power of attorney
Pleas submit a power of attorney application (EST) to us in good time (at least three business days in advance if you need a notarised POA), so we can issue you with one in time. The free for issue of a POA is shown in the price list.

Amendment of leasing contract
Submit an unattested written application if you would like to make amendments in the contract. Send us a message from the Internet Bank or to submit the application. You will be charged for leasing contract amendments according to the price list.

Leasing invoices
We send leasing invoices to the Internet Bank, by e-mail address or by post. Inform us of your choice by .

For more convenient payment of lease invoices we recommend e-invoice with automated standing order service.
You will find your valid leasing contract and payment schedule in the Internet Bank.

Termination of capital lease
The leasing period expires when the last leasing payment is paid. Once all the leasing payments have been paid and, as far as we're aware, there are no additional claims regarding the vehicle (e.g. parking ticket, speeding ticket), we will send you the leasing contract termination certificate. You can reregister the vehicle in ARK on the basis of the certificate and after that, you are the owner of the vehicle.
You pay the residual value of the vehicle with the last leasing payment if you signed a capital lease contract with residual value. You may apply for an extension of the leasing period to pay the residual value in instalments. Send us a letter to to submit an application.

Termination of operating lease
You must return the vehicle at the end of the leasing period.
Please read the Guidelines for Determination of Normal and Abnormal Wear of Vehicles (EST). It contains detailed information about the quality requirements for vehicles that are returned.
Submit the vehicle to the repurchaser for a check-up before the expiry of the contract if you opted for operating lease with repurchase obligation.

Valid from 01.12.2018

Description of service Price in euros
1.Entry into contract  
Entry into lease contract 1% of the acquisition cost of the lease item,
min €225
Conclusion of a new lease contract on the residual value of the ending lease contract 1% of the acquisition cost of the lease item,
min €160
2. Amendment of contractual conditions  
Amendment of contract, incl. change of lease period, change of repayment schedule, transfer of contract to new lessee, releasing additional collateral (surety, guarantee), other contractual changes

1% on outstanding residual value (1), 
min €160

Amendment of contract due to partial early performance of financial lease contract of a private individual, if other conditions are not changed No contract amendment fee (for fixed interest, interest difference charge shall be paid)
Amendment of payment day of a valid lease contract upon client's request EUR 30, first amendment free of charge
Reinstatement of contract EUR 160
3. Debt notice to the lessee (2)  
Reminder of debt Free of charge
Debt claim letter EUR 5
4. Authorisations, reports, certificates, invoices, other(2)  
Unattested power of attorney, incl. for changing the register entry in the e-service of Road Administration EUR 12
Upon expiry / pre-term termination of lease contract, first authorisation free of charge
Notarised power of attorney EUR 90
Change of register data during the lease period by the
EUR 12, state fee to be added.
Upon expiry / pre-term termination of lease contract, initiating the change of owner free of charge
Processing a claim arising from the violation of parking conditions, traffic regulations, or other legislation (including moving costs of the vehicle) EUR 36
Incurred costs will be added
Consent for subleasing the property EUR 42
Cancellation / amendment of redemption invoice of property upon client’s request EUR 12
Confirmation of balance statement presented by the client Free of charge
Issuing a certificate, consent, copy of contract, duplicate invoice (older than 1 month), fuel card statement or balance confirmation upon client’s request EUR 12
Issue of a specific statement or report upon the client’s request; confirmation of a period turnover statement provided by the client EUR 30
5. Pre-term termination of lease contract (2)  
Pre-term termination of private person’s lease contract As per contractual conditions
Pre-term termination of legal person's lease contract Unless otherwise specified in the agreement, the fee for early repayment is 2.5% on outstanding residual value (1), min €225; for operating lease, VAT shall be added; for fixed interest, interest difference charge shall be added

The establisher of the price list reserves the right to make changes to the price list.

(1) Outstanding residual value is the total sum of unpaid instalments, balance of VAT(loan) and residual value.
(2) Service fees include VAT as per Value-Added Tax Act

Base rates

Valid as 25.09.2020
1-month EURIBOR® -0,5230
3-month EURIBOR® -0,4980
6-month EURIBOR® -0,4680
12-month EURIBOR® -0,4330
EONIA® -0,4680
€STR -0,5540
Bank's base interest 0,0000
SEB base rate 0,0000
EURIBOR® historical data
EONIA® historical data
€STR historical data
SEB base rate historical data
Base rate information

Euribor (benchmark) and Eonia (benchmark) are published by the European Money Markets Institute (EMMI).
The base interest rate of the bank is set and published by AS SEB Pank.
The set base interest rate may decrease or increase over time. These changes affect the contractual interest rate. For example, if the new base interest rate has increased compared to the previous base interest rate which was in force on the day the agreement was concluded, the interest payments will also increase.


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