Choose the right solution for you

Purchasing a car is an important and well-thought-out decision, moreover, the purchase often requires a bank support. But what is the difference between a car loan and a financial leasing, and which option is right for me? To help answer this question, we created a tool that highlights the key differences between the two financial solutions.
 
This result is based on approximate calculation and is not considered as the right financing solution in all cases.  Please contact a Bank representative to make the right decision.
€ 2 000
€ 100 000
€ 0
€ 100 000
Car loan: from € 2 000 Leasing: from € 8 000
Car loan: to € 20 000 Leasing: no maximum limit
years
1 year
7 years
year
1970
2023
View the result
Incorrect amount. Enter an amount between € 2 000 and € 100 000.
No down payment is required for a car loan, for financial leasing it is from 10% of the car purchase value.
The maximum repayment period for a car loan/leasing is 7 years.
For car loans, there is no car age limit. For financial leasing – at the end of the leasing term, the car's age may not exceed 13 years; at the end of the operating lease term – 10 years.
We cannot offer an appropriate solution for the specified criteria. Please fill out a loan or leasing application, and our financial advisers will help you choosing the most appropriate financial solution to make the right decision. For financial leasing, the down payment is from 10% of the car price, and the maximum age of the car at the end of the lease is 13 years.
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Car Loan
Financing for the car purchase without a down payment and no car age limit
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Financial leasing
Financing for the car purchase with a lower interest rate compared to a car loan, but the car age is limited and a down payment is required
Down payment
Down paymentNot needed
Down paymentFrom 10% of the car purchase value
Loan amount
Loan amountFrom EUR 2 000 to EUR 20 000
Loan amountFrom EUR 8 000
Interest rate
Interest rateFrom 7.9% per year, for environmentally friendly cars – from 6.9% per year
Interest rateFrom 1.89% + 3-month Euribor, for environmentally friendly cars – from 1.45% + 3-month Euribor
Used car valuation
Used car valuationNot needed
Used car valuationNeeded
Car age limit
Car age limitNo limit
Car age limitNot older than 13 years at the end of the lease
CASCO insurance
CASCO insuranceNot mandatory, but recommended
CASCO insuranceMandatory
Ownership
OwnershipOn the customer’s name
OwnershipOn SIA Luminor Līzings name
Minimum age of the customer
Minimum age of the customer18 years
Minimum age of the customer21 years
Representative example: Financial leasing

Car price Down payment Leasing amount Repayment term Variable interest rate Commitment fee for transaction execution Total repayment amount Monthly instalment Annual percentage rate (APR)
€24,000 €2,400
(10 %)
€21,600 60 months 5.90 %* €360** €25,354.80 €416.58 6.80 %
The result is informative and based on an approximate calculation.
The customer is obliged to provide CASCO insurance for the car. CASKO insurance costs are unknown to the Bank, hence it is not included in the annual interest rate.
* Base rate 3M Euribor (3.66 % as of 15.07.2024), margin 2.24 %
** 1.5 % of the purchase price of the car

Representative example: Car loan

Loan amount Loan repayment term Fixed annual interest rate Loan agreement fee Minimum monthly account maintenance fee Total repayment amount Monthly instalment Annual percentage rate (APR)
€ 8 000 84 months 9.5 % € 0 € 1.30 € 11 092.20 € 130.75 10.27 %
The result is informative and based on an approximate calculation.