Vehicle leasing

In the role of a leasee, you are not the legal owner of the subject matter of the lease as the legal owner is the lessor. You can agree upon one of the following possibilities: withdrawal from the leasing agreement with the possibility of a transfer of the lease to a new leasee, or the premature redemption of the subject matter of lease which would make you the legal owner of the subject matter with which you can freely dispose of and sell.

We shall distinguish between the legal and economic ownership. In the case of financial leasing the leasee is the economic owner and not the legal owner of the subject matter of lease. However, in the case of operative leasing, the leasee is only the tenant of the subject matter of lease.

The insurance of the subject matter of lease shall be underwritten for the whole period of the leasing agreement with regard to the following type.

1. Vehicles: third-party liability AO and general automobile CASCO (AK) (maximum 1% of the deductible).
2. Immovable properties: In the event natural disasters such as earthquakes, fires, floods, and the liability, if required, to the value of a new building.
3. Equipment: In the event of theft, machinery breakdown, and flood.

The client can freely choose the insurance company for underwriting the property insurance.

Yes, and with that the maximum 1% deductible. NLB Leasing as the vehicles owner shall be stated as the person insured. However, we offer the underwriting of insurance with the same advantages applicable for our clients at our partner insurance companies.

The client may arrange in the name of the leasing company all the necessary repairs with the service which is authorized by the insurance company, as well as the refund by the insurance company in compliance with the insurance policy.

All the vehicles shall be insured against theft - to the value of a new vehicle, and in the event the vehicles theft the liabilities are settled by the insurance company. The leasee does not bear any additional costs in this case. The indemnity is intended for the repayment of the liabilities of the leasee to the lessor, while any obtained positive difference is returned to the leasee.

In the majority of cases, once a vehicle has been declared a total loss, the vehicle is sold by the leasee himself with the consent of the leasing house, by the leasing house, or it is left in the possession of the insurance company. The insurance company assigns the policy proceeds (enforcement of damage according to CASCO insurance), respectively, the indemnity (enforcement of the indemnity from the third party liability of the person responsible for the accident) in accordance with the agreement between the leasee and the leasing company. In any case, the insurance company transfers the final agreement to the leasing company, the legal owner of the vehicle. The latter checks the state of possible due unpaid claims on the date of the traffic accident and prepares for the leasee the offer for the premature redemption of the vehicle on the day of the accident.
In cases where the leasee is a natural person, the total discount of the future leasing instalments, not yet due for payment, is taken into account. In cases where the leasee is a legal entity, the contractually agreed discount interest rate for premature redemption is taken into account. For the leasing company it is important only to cover the open positions in compliance with the offer for the premature buy-off. The possible over-payment is always assigned to the leasee by the leasing company; likewise in the case of a deficit, the leasing company claims the negative difference from the leasee.