Leasing for businesses

A car finance lease is financing for the purchase of a car. When purchasing a car using a finance lease, the owner is the leasing company, and the customer is registered as the holder of the car. The car's ownership rights only transfer to the customer once all the lease obligations have been fulfilled. This is when the car is re-registered with CSDD in the customer's name. 

Meanwhile, a car loan is a loan for the purchase of a car. In this case, the customer purchases the car and becomes its owner right away. In most cases, the car loan interest rate is higher than the finance lease interest rate, and there is often a limit on the amount the car can be purchased for. 

1. Fill in the Application for final invoice issuing and send it by email to lizings@citadele.lv.
2. Within 5 business days of receiving the application, and after checking the source of your money (if necessary), Citadele Leasing will issue a final invoice and send it to you by email. Citadele Leasing has the right to refuse to issue a final invoice. 
   If the object of a finance lease is registered with CSDD, then: 
3. Once payment for your final invoice has been received, Citadele Leasing will add an electronic alienation mark to the leased object in the CSDD system to indicate that ownership rights have been transferred.  
4. Wait for a confirmation email on the change of ownership in CSDD and reregister your ownership rights within 5 calendar days of receiving the email: 
   a) through e-CSDD, where, after logging in, you should select: Darbības ar transportlīdzekļiem > Reģistrācijas apliecības saņemšana. See more detail here.
   b) in person at any CSDD customer service centre. 

Legal persons will also have to pay early payment compensation in accordance with the terms of their agreement if they repay their finance lease early.

For your information:

If you are a natural person (consumer) and you have fulfilled all the obligations arising from your finance lease agreement before term, resulting in the final invoice being issued to you, then, in accordance with the provisions of Section 8, third paragraph of the Consumer Rights Protection Law, you are entitled to a fair reduction of the total leasing costs in the event of early repayment. Therefore, to receive a proportional refund of the paid administration/commission fees for transaction evaluation and document preparation, you must submit the Application for cost reduction due to early fulfillment of leasing obligations to either Citadele Leasing or Citadele Factoring (depending on which company your agreement is with), indicating the account number to which the refund should be paid. A template of the order is available at www.citadele.lv under: Details and application forms. Bear in mind that we have the right to withhold payment processing fees from your refund.

Yes, you can drive outside of the Republic of Latvia in a leased car. 
You do not need permission from us to drive in an EU country (including the Baltics). 

To drive outside of the EU, you need our agreement and an authorisation. The fee for this is in our price list. Customers with KASKO insurance from CL Insurance Broker can receive this authorisation for free. 

Terms for receiving authorisation: 

• you must submit a valid KASKO policy which covers the countries whose borders you plan on crossing (if your KASKO policy does not cover these countries, you must take out a supplemental policy for the required period which includes the necessary countries); 
• if you want to visit a CIS country, but your technical pass is still under our old name of SIA “Unicredit Leasing” or SIA “Citadele līzings un faktorings”, this must be changed to our current name (in this case, we will cover the cost of changing your CSDD technical pass); 
• you must not have any late payments; 
• you must submit a filled-in, signed Application for permission to drive out of the country.

Send the application and attachments necessary for us to prepare the authorisation by email to lizings@citadele.lv, and we will prepare it within two business days of receiving the documents. 

WARNING! 
Bearing in mind the instability in Ukraine and other countries, and the potential threats of warfare, we currently do not issue authorisation for driving to the following countries: Russia, Belarus, Ukraine, Israel, even if these countries are included in your insurance coverage. 

If you currently use Smart-ID Basic, we suggest you transition to a full-access Smart-ID account so that you can access all online services and sign documents with a secure electronic signature. Video tutorial here. 

What do I need to change to the qualified version of Smart-ID?

1. You will have to register for a full-access Smart-ID account with biometric identification. 
2. You must have an active Smart-ID account or access to the contact information you entered when registering for Smart-ID (phone number, email address).
3. Ensure you have the latest version of the Smart-ID app. 
4. Keep your passport or ID card at hand. A biometric passport or ID card will have the following symbol: 
5. Your device must support NFC technology. If your device does not support NFC, or your camera doesn't work, then the Smart-ID app won't offer the biometric method.

Yes, you can.

1. Fill in an Application to issue a final invoice and email it to lizings@citadele.lv.
2. Within 5 business days of receiving the application, and after checking the source of your money (if necessary), Citadele Leasing will issue a purchase price invoice (all active invoices must be paid) and send it to you by email. Citadele Leasing has the right to refuse to issue a purchase price invoice. 
   If the object of a finance lease is registered with CSDD, then: 
3. Once payment for your final invoice has been received, Citadele Leasing will add an electronic alienation mark to the leased object in the CSDD system to indicate that ownership rights have been transferred. 
4. Wait for a confirmation email on the change of ownership from CSDD, and re-register your ownership rights within 5 calendar days of receiving the email: 
   a) through e-CSDD, where, after logging in, you should select: Darbības ar transportlīdzekļiem > Reģistrācijas apliecības saņemšana. See more detail here.
   b) in person at any CSDD customer service centre. 

A finance lease is financing for the purchase of a leased object. The leased object belongs to Citadele Leasing, but the customer is registered as the holder of the leased object. By making payments during the lease period, the customer covers the full purchase price of the leased object, as well as interest and other payments detailed in the agreement. 

Once all the obligations within the agreement have been fulfilled, ownership of the leased object is transferred to the customer. Citadele Leasing adds an electronic note to the CSDD, VTUA or other relevant register. Afterwards, the customer is responsible for re-registering the object in his own name within 5 days. 

An operate lease is essentially a long-term rental. The leased object belongs to Citadele Leasing, but the customer is registered as the holder of the leased object. During the rental period, the customer pays a lease payments and other payments detailed in the agreement. 

After the rental period ends, the leased object does not belong to the customer. The customer must return the leased object to Citadele Leasing or its nominated buy-back agent. If the customer wishes to purchase the leased object, this can be arranged separately through Citadele Leasing at the purchase price set by Citadele Leasing. 

Yes, it is possible. When a partial early repayment of the principal amount is made, the subsequent monthly payment amounts are reduced.

To proceed, you must complete the Application for issue of additional invoice,  sign it, and send it to the email address lizings@citadele.lv.
Upon receipt of the application and, if necessary, verification of the origin of funds, Citadele Leasing will issue an additional invoice for the amount specified in the application. At the same time, a new payment schedule will be prepared and sent to your email address and/or placed in Leasing Portal.

For legal persons, early repayment of the principal amount under a finance lease agreement must also include the prepayment compensation specified in the agreement.

Citadele Leasing has the right to refuse to issue an additional invoice. 

Citadele Leasing collaborates with the following insurance companies:  

• BALTA AAS.
• BTA Baltic Insurance Company AAS.
• Baltijas Apdrošināšanas Nams AAS.
• Balcia Insurance SE.
• ERGO Insurance SE Latvian Branch.
• IF P&C Insurance AS Latvian Branch.
• Gjensidige ADB Latvian Branch.
• Compensa Vienna Insurance Group ADB Latvian Branch.
• or other company, if it is individually agreed.

To change the email address to which we send your monthly invoices, fill in the Application for email communications, sign it, and email it to lizings@citadele.lv or make changes in the Settings of the Leasing Portal in the Contacts section.

For legal persons, the application may only be signed by a person with signing authority or a duly authorized representative. Upon receipt of the application, the email address will be updated in the system.

You can check this in the Smart-ID app under User information. If your account level is Smart-ID qualified electronic signature, then everything is OK and you can use it to sign documents electronically. Meanwhile, if you see anything else under User information, you will have to upgrade your account in order to sign documents electronically.