Car leasing The easiest solution for purchasing a car

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 750 euros may apply for car leasing.

The amount of car leasing can be 15 000 to 30 000 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 the car leasing is from 4.9% + 6 months’ EURIBOR, calculated on the balance of the loan. The exact interest rate depends on the conditions offered to you, which you can review after submitting the application if you received a positive decision. The term of the loan is 24 to 96 months. The non-fixed interest rate consists of the margin that is fixed in the contract for a specific period and EURIBOR base rate. If the base rate changes, we will prepare a new payment schedule for you. A negative EURIBOR value is always considered to be zero.

You can submit a car leasing application right here on the Inbank website or at our branch in Tallinn. To conclude an agreement online, a valid ID card, Mobile-ID, or Smart-ID is required. 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. You will also find the link 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.

An account statement must be submitted for the last 6 months before the date of application and must contain information on your income and obligations. If you are submitting an account statement from Swedbank, SEB, LHV, Coop Pank or Luminor, it must be submitted in a bank-approved digital format (.bdoc, .asice, .sce). If you submit an account statement from another bank, you must save it in PDF format and sign it digitally with the DigiDoc program. 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 laen@inbank.ee.

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.

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 for 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.

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 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 info@inbank.ee 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 the payment of the residual value in instalments.

Yes, it is possible to change the payment date. In order to do so, send your request to info@inbank.ee. You will find the fee for amendment of the payment date on the Inbank price list.

Yes, you can apply for a grace period if necessary. In order to do so, please e-mail your request to info@inbank.ee. 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.