Lease of personal vehicles

Lease of personal vehicles is an opportunity to buy a new or a second hand vehicle.

If finance lease is the option you choose, your monthly payments will cover the value of the vehicle and at the end of the lease term you will become the owner of the vehicle.

If operating lease is the option you choose, your monthly lease payments will cover the depreciation of the selected vehicle. At the end of the lease term you will have the right to extend the lease agreement, purchase the vehicle at a price specified earlier or return it to the seller.

General terms of vehicle lease:

financing is provided for the purchase of new and second hand vehicles;
the lease is provided for up to 7 years;
the seller of the vehicle may be either a physical person or a legal entity;
the first instalment begins at 10% of the value of the vehicle;
the minimum financing is LVL 1,500 (excluding VAT);
the vehicle must not be older than 12 years at the end of the lease term;
floating interest rate, available currencies are LVL, EUR;
the commission fee on the lease is up to 1.5% of the value of the vehicle (documents are accepted and reviewed free of charge).

Documents you need to make a lease transaction:

For legal entities:

application
copy of the official representative’s passport
copy of the registration certificate
copy of the Statutes
annual report for the preceding year (including Auditor’s Report)
balance sheet and profit and loss statement for the latest quarter

For physical persons:

application
copy of passport
statement from employer, statement from the SRS, print-out of current account for the latest year or other documents confirming income