Frequently asked questions about lease finance
We compiled answers to frequently asked questions about corporate lease finance
Vehicle inspection for leased cars
In Full-service leasing (Autoleasing service), inspection fees are included in the contract.
In Financial leasing, inspection fees are not included in the contract. The lessee must have the car inspected for the first time during the third year of use, no later than on the car's commissioning date or at the earliest four months in advance.
Insurance
Full-service leasing (Autoleasing)
When applying for our Autoleasing service, you can simultaneously apply for NF Fleet comprehensive insurance, which includes both traffic and comprehensive coverage.
Financial leasing
Don't worry - accidents happen. File a damage claim with the insurance company and notify us of the incident. Send a damage report signed by both the lessee and driver to the insurance company's office. If a police report has been filed, include it or deliver it to the insurance company as soon as possible.
Vehicle damage must be repaired at an authorized dealer workshop. Before repair work begins, the workshop needs billing authorization from the insurance company. The policyholder is responsible for the insurance deductible.
Switching insurance companies
If you want to switch to another insurance company, fill in an insurance application with the insurance company of your choice and ask them to provide us with the details of your new insurance.
If switching to another insurance company requires changes to your vehicle registration, ask the insurance company to send a change request and your insurance certificate to our Customer Service.
This change is subject to a fee charged by Traficom and a fee set in our tariff.
Total Loss
In cases of total loss, the insurance company representative must contact Nordea Finance customer service.
Contract changes and invoicing
Does your company need to make changes to your leasing agreement? You'll find the answer to this and many other questions here.
Full-service leasing (Autoleasing service)
With Autoleasing, you rent your desired new car for 24-48 months with an agreed kilometer amount at a fixed monthly price. The price includes almost all driving costs, such as scheduled maintenance, technical repairs outside of maintenance, inspections, and tires. You must ensure that the kilometer amount is not exceeded during the contract period and adjust the agreed kilometer amount if necessary. Learn more about our Autoleasing service.
Financial leasing contract modifications and invoices:
Leasing invoices
Leasing rents are invoiced in advance monthly or quarterly with invoices delivered by post. Finance leasing rent is fixed.
E-invoice
Your company can use e-invoicing. If you want to switch from paper invoices to e-invoices, please provide our customer service with your company's electronic invoice address and operator code.
Leasing agreement termination
If you wish, you can sell the car during the contract period. You need to find a new buyer for the car who will make a purchase offer at fair market value. must include the car's identification details and the purchase price. The purchase offer must be signed and approved by both you as the car holder and the new buyer.
The purchase offer should be sent to our customer service for approval. If the offer is approved, we will send a counter-offer to the buyer. If the purchase price is higher than Nordea Finance's receivable, you will receive a rent refund for the difference. If the purchase price is lower than Nordea Finance's receivable, the difference will be invoiced to you.
The registration certificate will be sent to the new owner once the purchase price has been paid in full to Nordea Finance.
Payment term changes
If you want to discuss the possibility for changing the payment terms, please contact our customer service either by phone or through Nordea's online banking customer mail. Due to banking secrecy, we cannot discuss credit-related matters via open email.
Due date changes
If you want to change the due date of your leasing agreement installments, please contact our customer service. We charge a fee according to our price list for changing the invoice due date.
Leasing rent taxation
Your company can deduct the entire rent amount as an expense in taxation. Value-added tax is always deducted from each leasing rent.
Termination of the Financial leasing agreement and returning the car
Approximately four months before your financial leasing agreement expires, we will send you confirmation of the agreement's termination along with a purchase offer form. You have the right to find a new buyer for the car and use any potential rent refund to your advantage. You cannot purchase the car yourself; the buyer must be a company or private individual outside your immediate circle.
The buyer must make a purchase offer for the car at fair market value. The purchase offer must include the car's identification details and the purchase price. The purchase offer must be signed and approved by both you as the current holder and the new buyer. The purchase offer is sent to us for approval. If the offer is approved, we will send a counter-offer to the buyer. If the purchase price is higher than Nordea Finance's receivable, you will receive a rent refund for the difference. If the purchase price is lower than Nordea Finance's receivable, the difference will be invoiced to you.
Excess kilometer charges
The lessor will invoice any excess kilometers at the end of the contract period or if the agreement is terminated during the contract period.
Extending the contract
If you have received a contract extension offer and accepted it, the contract period will be extended by one year. If you wish to extend the contract, please contact our customer service.
Car exchange and sale
If you want to exchange your current leasing car or sell it, here's how to proceed.
Full-service leasing (Autoleasing service)
Autoleasing takes care of the car's depreciation according to the contract period and kilometers on your behalf, and handles the car's resale when the contract period ends.
Financial leasing:
If you wish, you can sell your financial leasing car during the contract period. You need to find a new buyer for the car who will make a purchase offer at fair market value. The purchase offer must include the car's identification details and the purchase price.
The purchase offer must be signed and approved by both you as the car holder and the new buyer. The purchase offer should be sent to our customer service for approval.
If the offer is approved, we will send a counter-offer to the buyer. If the purchase price is higher than Nordea Finance's receivable, you will receive a rent refund for the difference. If the purchase price is lower than Nordea Finance's receivable, the difference will be invoiced to you. The certificate will be sent to the new owner once the purchase price has been paid in full to Nordea Finance.
Registration Changes
Does your company need to make changes to your leased vehicle's registration information? Or do you need to take the vehicle out of traffic use? You'll find answers to these questions here.
Adding a second holder to the Vehicle Registration Certificate
A second holder can be added to the vehicle register, for example in shared use situations. The second holder does not need to have a contractual relationship with Nordea Finance. Please contact our customer service regarding holder changes. We charge a fee according to our price list for the addition, plus Traficom's applicable fee.
Removal from Traffic Use
A financed vehicle can be removed from traffic use if the insurance company covers any damages that may occur during the period of removal from traffic use. Check with your insurance company regarding the coverage of your insurance for the financed vehicle during the period of removal from traffic use.
You can remove the vehicle from traffic use by contacting our customer service. We charge a fee according to our price list for removal from traffic use, plus Traficom's current applicable fee.
A vehicle removed from traffic use may not be driven before it is registered back into traffic use.
If you wish, you can also make the change through Traficom's electronic service.
Return to Traffic Use
When you want to return the vehicle to traffic use, contact our customer service in good time. We charge a fee according to our price list for return to traffic use, plus Traficom's current applicable fee. It's also advisable to notify your insurance company about the return to traffic use.
If you wish, you can also make the change through Traficom's electronic service.
Insurance Company Change
If you want to change insurance companies, make a new insurance application with your desired insurance company and ask the insurance company to contact our customer service. The insurance company will provide the necessary information and we will handle the insurance company change through direct registration.
We charge a fee according to our current price list for insurance company changes, plus Traficom's applicable fee.
Address Change
Please report changes to your address and contact information by phone to our customer service.
Are you planning to travel abroad with your vehicle?
When traveling abroad with a financed vehicle, you need written permission from Nordea Finance for taking the vehicle out of the country.
When traveling abroad with a financed car, you must carry an export registration issued by the financing company. It's advisable to order the registration approximately two weeks before your trip. Also contact your insurance company well in advance of your trip to ensure your insurance coverage is adequate.
When traveling abroad or to Åland with a vehicle, you must also carry the technical section of the vehicle registration certificate, which can be ordered directly from Traficom's electronic service or from an inspection station.
Export registration can be granted:
- Within Europe with the restrictions specified below
- For the duration of the trip, but for a maximum of six months
- Export authorization is not granted for trips to other continents.
Prerequisites for granting permission are that:
- Payments according to the financing agreement are up to date
- The vehicle has valid traffic and comprehensive insurance
- Insurance premiums are up to date and
- Insurance coverage covers damages to both the authorized vehicle and the counterpart's vehicle in the destination country.
If your trip is to Moldova, Kosovo, or Turkey, please contact Nordea Finance customer service. Export registrations are currently not granted for Russia, Belarus, or Ukraine.
Order your export registration here. We charge a fee according to our price list for the authorization. Please note, however, that for export authorizations that are ordered and requested to be sent on the same day, we charge an express delivery fee according to our price list.
Forms and useful links
Here you'll find various forms and useful links.
Transfer Notification (Traficom transfer notification)
Finnish Transport and Communications Agency Traficom.fi
Frequently asked questions about hire purchase
Below you will find answers to frequently asked questions about hire purchase finance.
Once your agreement expires
Selling the vehicle once your agreement expires
Once you have paid all your instalments, you can sell the vehicle to a third party. After all the payments under the agreement have been entered in our systems, we will send the certificate for your car to your company, or to the new owner if we have agreed on this separately. If you want to register the vehicle directly in the new owner’s name, send us a copy of the deed of transfer or the deed of sale by post or by email to autoluovutukset@nordea.com.
Traficom’s deed of transfer
The deed of transfer or deed of sale must include the car’s, the seller’s (the borrower’s) and the buyer’s details as well as the borrower’s and buyer’s signatures and names in block letters. The person signing the agreement on behalf of your company must be registered as authorised to sign on behalf of the company in the Trade Register maintained by the Finnish Patent and Registration Office.
Registration of your vehicle after the expiry of the agreement period
Once you have paid all your instalments, we will send you the certificate for registration by post. With that, you must register the vehicle in your company’s name on Traficom’s website or at an inspection station.
The day on which the certificate is posted is entered as the vehicle handover date. In accordance with the Finnish Transport and Communications Agency, the vehicle must be registered in the name of the new owner within seven days of receiving the certificate.