Why choose the car leasing from Inbank?
Applying for car leasing from Inbank is easy, you will get the response to your application within one working day, and a down payment and comprehensive insurance are not required. You can spread the monthly payments over six years maximum and the car will be yours.
The interest rate of car leasing is low: from 5.9% per year.
No down payment is required and comprehensive insurance is voluntary.
Period 24-72 months.
You will get the response to your application in one working day and if it is positive, you can sign the agreement straightaway.
Applying for car leasing is easy
Fill in the application
Choose the vehicle you want, log into the Internet bank with your ID card or Mobile ID and fill in the car leasing application.
Sign the agreement
You can sign the car leasing agreement with your ID card or Mobile ID. You can also enter into the agreement at an Inbank branch. With the agreement, you authorise Inbank to establish a registered pledge on the car, which will remain in effect until the end of the credit period.
The agreement will enter into force after you have identified yourself at an Omniva or Inbank branch.
Buy the vehicle
We will transfer the credit amount to your account within one working day after entry into the agreement. You can then use the money to buy the vehicle you selected earlier.
Terms and conditions of car leasing
Amount: 15,000 - 25,000 euros
Period: 24 - 72 months
Interest rate: 5.9% to 9.9% per year depending on the terms and conditions offered to you
Agreement fee: 1.5% of the loan amount, min. 190 euros
Agreement administration fee: 2.50 euros per month, which is included in the monthly repayment
We can offer you car leasing if:
- you are at least 21 years old and an Estonian citizen or a residence permit holder
- your net monthly income is at least 600 euros
- you perform your financial obligations appropriately
- you submit a copy of the registration certificate of the purchased vehicle within seven days of the payout of the credit amount using the e-mail address email@example.com
- you authorise us to establish a registered pledge on the vehicle to be acquired within the scope of the car leasing agreement
If you are a new client of Inbank or if you want to enter into a recurring agreement, you must identify yourself physically and you can do it by visiting an Omniva or Inbank branch. The identity documents we accept are the ID card, passport and residence permit of the Republic of Estonia.
We will pay out the loan amount within one working day of signing the agreement and confirming your identity.
Early repayment of the loan
You can repay the car leasing amount to us early at any time either in part or in full, and if you do so, you will not have to pay interest or other fees for the time you did not use the loan. In order to do this, you must submit a written request to Inbank’s customer service indicating the amount to be repaid and the date. We will then inform you of the final amount left to pay. The fee for early termination of the loan agreement is:
- 0.5% of the amount to be repaid if less than one year is left until the expiry of the agreement at the moment of repayment.
- 1% of the amount to be repaid if more than one year is left until the expiry of the agreement at the moment of repayment.
Establishment of registered pledge
The establishment of a registered pledge on the vehicle to be bought is a premise to entering into a car leasing agreement. The registered pledge agreement means that you will remain the owner of the vehicle, but we will have the right to demand sale of the car if you run into difficulties with repayments. Inbank will establish the registered pledge after the car has been registered in your name. You will authorise us to establish the registered pledge during entry into the loan agreement.
Important information before entering into the agreement
Think carefully whether car leasing is a suitable option considering your needs and financial status.
- Read the agreement and the terms and conditions carefully before you sign the agreement and don’t hesitate to ask if you need more information.
- Think about the risk you can afford to take. Please be aware that we will have the right to demand the sale of your car if you run into difficulties with the repayments.
- Read about the different car financing options offered by Inbank on our website and don’t hesitate to ask our customer service for assistance.
- Review the terms and conditions again after signing the agreement. This way, you can be sure that you will perform your obligations correctly and when due.
- We will always be a good partner to you. If you would like to change a loan for another product of ours or you run into difficulties with the performance of your obligations, please let us know. This will allow you to avoid the sale of the vehicle, additional expenses and litigation.
- Read our letters carefully and let us know immediately if your contact details change.
REQUIREMENTS FOR APPLICANTS
All Estonian citizens or residence permit holders who are at least 21 years old, have an excellent credit record and a monthly income of at least 600 euros may apply for car leasing.
ENTRY INTO AGREEMENT
The amount of car leasing can be 15,000 to 25,000 euros. The sales price of the vehicle is not limited: the cost of the vehicle you buy may exceed the loan amount. We don’t require a down payment from you. You can also buy a vehicle that is not the one you indicated in the application, provided that the sales price of the vehicle is not more than 10% cheaper than the initial one.
The interest rate of car leasing is 5.9% to 9.9% per year and it is calculated on the balance of the loan. The exact interest rate depends on the conditions offered to you, which you can review within a day after submitting the application if you received a positive decision. The term of the loan is 24 to 72 months. The interest rate is fixed for the entire loan period and is not tied to the Euribor. You can therefore be certain that the monthly repayment will not change.
You can submit a car leasing application right here on the Inbank website or at our branch in Tallinn. You must have an ID card or Mobile ID to sign the agreement online. You must know your PIN1 to log in and your PIN2 to sign the agreement. You must present an identity document (ID card, passport or residence permit card) to sign the agreement at a branch of the bank. The amount will be paid out after identification, which can be done at selected locations of Inbank and Omniva branches.
We offer you the following identification options when entering into a loan agreement: Inbank branch, Omniva branches and identification via webcam. See the locations of Inbank and Omniva branches.
First of all, check that you have installed the latest version of the ID card software on your computer, or download the most recent version of the software and restart your computer. You can find a solution to your problem in the ID Card Help Centre or by calling the ID Card Helpline on 1777. If you still cannot sign the agreement digitally, please contact Inbank’s customer service. The agreement can also be signed at Inbank.
After you sign the agreement digitally, it will remain accessible in the Internet bank of Inbank as well as in the allkiri.ee environment, where you can download it to your computer. You will also find the reference to your agreement in the e-mail message that will be sent to you after you sign it. If you still cannot find the agreement, please contact our customer service.
SUBMISSION OF ACCOUNT STATEMENT
Inbank only accepts digitally certified account statements (in .bdoc, .asice, .sce formats). You can download it from the Internet bank of your home bank. If you submit an account statement from Swedbank, SEB, LHV, Coop or Luminor, it must be in a format that is digitally certified by the bank. If you submit an account statement from another bank, you must save it in PDF format and sign it digitally with the DigiDoc programme. Please also read the guideline on uploading account statements. After saving the statement on your computer, you can upload it on the loan application page. If you cannot upload the statement in the Internet bank of Inbank, please e-mail it to firstname.lastname@example.org.
LOAN RESPONSE AND RECEIPT OF MONEY
We will give the response to the application within one working day after you have submitted the car leasing application and uploaded the account statement. You can also sign the agreement straightaway if the response is positive.
We transfer the money to the borrower’s account within one working day of entry into the agreement and identification of the borrower. Depending on your bank, the money will be received in your current account on the same banking day that we make the payment, or on the next banking day.
BUILDING A VEHICLE WITH CAR LEASING
The purchased vehicle must have valid motor insurance. A comprehensive insurance contract is not mandatory when you use car leasing. However, we still advise you take out this insurance, as it will protect you against the most common losses irrespective of who causes the accident.
We will transfer your car leasing amount to your current account not later than on the next working day after you have signed the agreement and identified yourself. After that, you can enter into a sales contract with the seller of the vehicle. You must take care of everything required in relation to purchasing the vehicle. For example, the change of the owner of the vehicle must be registered at the Road Administration within five days of purchasing the vehicle.
Make sure you also read the useful advice when buying a vehicle issued by the Consumer Protection Board. The most convenient option is to register the purchase and sale in the e-service of the Road Administration.
Yes, the purchase and sales documents of the vehicle must be submitted to Inbank within seven days of the payout of the car leasing amount. Inbank will then establish a registered pledge on the purchased car, which means that we have the right to demand sale of the vehicle should you run into difficulties with car leasing payments. If you fail to submit the required documents within seven days, the bank has the right to amend the terms and conditions of the agreement unilaterally by increasing the interest rate by the rate indicated in the agreement. Amendment is subject to an agreement amendment fee.
As the car leasing amount is transferred directly to your current account and you enter into the sales contract with the seller of the vehicle yourself, the vehicle will belong to you during the agreement period as well as thereafter. Inbank will establish a registered pledge on the purchased car until the end of the credit period, which means that we have the right to demand sale of the vehicle should you run into payment difficulties. If you want to sell the vehicle yourself, you must inform our customer service about this in advance.
Every month, we will send you an e-invoice, which you will find in the Internet bank of your home bank. The e-invoice will be sent to your Internet bank for payment from the account to which you wanted the car leasing amount to be paid. We advise you to set up an e-invoice standing order to make repaying the loan more convenient. The payments are made to Inbank’s account in SEB or LHV bank. An invoice is deemed paid if the payment was made with the correct reference number, which you will find in your loan agreement or on the e-invoice.
Inbank will start calculating interest from the payout of the loan amount. The amount of the invoice for the first period may therefore be smaller than the amount in the payment schedule, which was calculated at the moment the agreement was prepared.
Yes, you can repay the car leasing in part or in full before its expiry. In order to do so, send an application to email@example.com and indicate the date when you would like to repay the car leasing amount. We will then send you the final amount that must be repaid by the selected date. You can find the terms and conditions of early repayment on the price list..
The residual value of the car, which is 25% of the initial credit amount, must be paid to the bank with the last monthly payment. The residual value can be paid as a lump sum as the last instalment, but if you don’t want to do this, we can enter into a new credit agreement for 6 to 72 months for the payment of the residual value in instalments.
Yes, you can apply for a grace period if necessary. In order to do so, please e-mail your request to firstname.lastname@example.org. The length of a grace period is up to three months. If you would like to use the option of a grace period for a second time, the credit and interest payments for the last three months must not be outstanding. It is possible to have two grace periods during the term of the agreement and for up to six months in total during the car leasing period. The exact length and the terms and conditions of the grace period are determined by considering your requirements and possibilities.
If we haven’t received a repayment by its due date, we will text you a reminder that the payment must be made. There are costs associated with late payments, and default interest is calculated on delayed payments. You will find the fees associated with late payments in your agreement and the Inbank price list. If you see that you are running into long-term problems with payments, please contact us so we can find a flexible solution together.
Irrespective of the reasons for payment difficulties, Inbank always tries to help its clients by offering solutions that are as flexible as possible. This is why you should immediately inform us of any difficulties with repayments. For example, you can request a grace period or extend the payment period, which will reduce the monthly payments. Please be aware that Inbank has the right to demand forced sale of the vehicle if a client runs into payment difficulties.
Loan is a financial obligation. Before you submit the application, please assess your financial position and think about whether you really need the loan so you can be sure that you are able to repay the loan. You may have to pay default interest and compensate for debt collection expenses if you fail to make payments when due and may make it difficult for you to obtain future loans from Inbank and other financial institutions. Before you decide we recommend you to read the information on the consumer website of the Financial Supervision Authority www.minuraha.ee, the terms and conditions of the loan, credit disclaimer examples and the pre-contractual information.