ELKE Auto strives to offer its clients lease financing and additional services for their Toyota vehicles and used cars under the best possible terms.
If you wish to buy a vehicle by leasing it, you can choose from a variety of lease contract types – you can purchase a vehicle under operating or financial lease or hire purchase terms. When choosing a lease contract type, you can give input into determining the amount of monthly rentals. If you leave a residual value for the end of the lease term, you can pay lower rentals.
Types of contract:
- Operating lease
- Finance lease
- Hire purchase
- Finance lease with a final payment
- Hire purchase with a final payment
Finance lease:
According to the Value Added Tax Act, a finance lease is deemed to be a transfer of goods and the value added tax liability on the sales price is created when the goods are given over. A client is often unable to pay the value added tax as a lump sum, which is why Swedbank Liising offers two finance lease financing schemes:
- value-added tax payable on the object of lease is not financed
- value added tax payable on the object of lease is financed and the amount is spread over the lease period.
Operating lease:
Is a lease transaction where a leasing company buys a vehicle of the client’s choice and gives it to the client to be used by the client for a fixed period of time.
- At the end of the period, the client has an option to return the vehicle (together with a lease contract, a repurchase contract is concurrently made with Elke Auto), buy the vehicle out, waive the right of buying the vehicle out to a third person, or extend the contract as an operating or finance lease.
- An operating lease gives the opportunity to recover the value added tax on rentals (monthly).
Hire purchase:
Hire purchase is a transaction similar to finance lease where value added tax is not included in the price of the acquired vehicle.
Minimum lease terms and conditions:
- Down payment starting from 10%, or less in exceptional cases.
- Contract period is 6−72 months, depending on the object of lease.
- Contract fee:
Finance lease and hire purchase 1% of the acquisition cost of the asset, minimum 2,500 EEK.
Operating lease 1.5% of the acquisition cost of the asset, minimum 3,000 EEK.
The residual value will be agreed upon between the lessor, ELKE Auto and the client.
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All necessary procedures to acquire a vehicle from one place:
- Acquiring a vehicle from Elke Auto
- Lease consulting and a contract
- Casco and motor third party liability insurance
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Leasing partners
The terms and conditions of different leasing companies may vary.
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