What is the Annual Percentage Rate (APR)?

The Annual Percentage Rate (APR) is the total cost of a finance lease expressed in the annual percentage of the amount of financing issued, including the total costs of the financing. APR is calculated in accordance with the Cabinet of Ministers Regulation No. 691 of 25.10.2016. "Regulations on Consumer Lending", assuming that: 

• the lease agreement is valid from the day it is signed until the end of the term; 
• the financing sum is issued in one payment; 
• the interest rate valid on the day the agreement is signed applies for the entire lease agreement term; 
• the customer (consumer) fulfils his obligations in accordance with the agreement. 

The costs of insuring and registering the leased object, as well as other costs not set by the financer, are not included towards the total cost of the lease when calculating APR.

APR is calculated for the benefit of the customer (consumer) and is for his information only. APR is not recalculated during the agreement validity term, including if the figures and amounts change. APR is calculated so that the customer (consumer) can compare different offers.