Financial leasing
The most suitable type of leasing for buying a car
It is ideal for any customer who wishes to become the owner of their vehicle after the end of the lease period.
Financial leasing gives you the opportunity to have your money at your disposal. Instead of putting a large lump sum into buying a car, you pay monthly payments that you can reduce by paying a higher down payment at the start of the contract.
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Types of financial leasing
Financial leasing with an option (Option B)
A financial leasing with an option is residual value financing.
The residual value corresponds to the estimated market value at the end of the contract and is determined at the beginning of the contract based on the time of use of the car and the estimated mileage.
At the end of the lease, the customer chooses whether to acquire the car by paying the residual value or to return the car to us.
Financial leasing without an option (Option A)
A financial leasing without an option is for those of you who know that this is their car and want to become its owner at the end of the lease period.
With each payment, you pay off part of the value of the car and get closer to the desired goal. The standard term for leasing a new car is 5 years, and the minimum down payment is 30%.
Your benefits
| Option B | Option A |
|---|---|
| Individual setting of parameters. You decide for yourself about the amount of the down payment, the annual mileage, as well as what repayment schedule is optimal for you. And in this way you also influence the size of the monthly payment. | Individual setting of parameters. Depending on your capabilities and wishes, you can choose a longer lease term and/or a higher down payment to lower your monthly payments. |
| Lower monthly costs. Thanks to the residual value, you pay a significantly lower monthly payment. And you can invest the saved funds in various other endeavors. | Acquisition of property. With this type of leasing, you become the owner of the car after making the last payment and notarized transfer. |
| Flexible solutions at the end of the contract. You decide for yourself at the end of the lease period what you want to do with the car: return it to us and get a new one; pay the residual value and thus acquire ownership of it, or enter into a new leasing contract for the same car with a financing amount equal to the residual value. | Possibility of tax credit. With this type of leasing, you can use a tax credit for cars for which the Bulgarian legislation allows it. After we hand over the car to you for use, we issue you an invoice for the entire value of the car including VAT, which you pay according to a repayment schedule. |
| Easy cost planning. You know at the very beginning of the contract what the residual value of the car will be at the end of the lease period and you are protected from unpleasant surprises. |
Useful information
Financial leasing procedure
Are you interested in how everything happens from choosing a car to leasing it? See the step-by-step process.
Travel abroad
In order for the lessee to leave the country with the leased car, it is necessary to have a "Green Card" certificate and a notarized power of attorney to drive the car abroad. You receive the "Green Card" with each issuance or renewal of the "Third-party Liability" insurance. The power of attorney is issued only upon written request from the client.
Financial Leasing - FAQ
Here you can see what the steps are for taking a car on financial
Porsche Leasing finances the purchase of second-hand cars not older than 5 years, which are offered by all authorized Volkswagen & Audi dealerships in Bulgaria.
Contact number for all questions related to your leasing contract or insurance policy:
+359 (0)2 489 9100
You can drive the leased car abroad, but you must have a notarized power of attorney from us. Also, make sure that the countries you will be traveling to are covered by Third-party Liability and Casco insurances.
You can submit a request for a power of attorney abroad here.
For questions, contact us at phone: +359 (0)2 489 9100.
The amount of interest is calculated depending on the risk assessment and/or the number of leased cars. The leasing schemes offered are with variable interest rates based on three-month EURIBOR. Interest is charged on the amount financed by us.
EURIBOR is the interest rate offered by the first-class banks participating in the London International Banking Market for deposits in Euros. In the event that the three-month EURIBOR changes compared to the time of the last adjustment of the interest, respectively the date of delivery of the car, by more than 25 basis points (one percentage is equal to 100 basis points), an interest adjustment is carried out - for financial leasing, or of the monthly payment - for operation leasing, as of the first day of the month following the corresponding calendar quarter, which adjustment is analogous to the change in the three-month EURIBOR. The three-month EURIBOR on the first day of the previous month is used as the basis for calculation compared to the three-month EURIBOR on the day of the last interest/payment adjustment, respectively on the date of handover of the car.
The down payment is from 20% to 45% of the value of the car and its amount is determined by the customer himself. It represents the customer's personal involvement in the transaction. No interest is charged on it. It is paid upon signing a leasing contract, and payment is a condition for the start of the contract.
If necessary and in accordance with the customer's creditworthiness, Porsche Leasing has the right to require the provision of the following guarantee: promissory note or contract surety.
Payment is made in monthly payments, including principal repayment and monthly interest on the remaining principal. Payments are accepted only by bank transfer to the current account of Porsche Leasing:
Payments to Porsche Leasing are made in the national currency, and the BNB fixing of 1.95583 is used to calculate the amount in Bulgarian leva.
You must notify us in writing in a manner convenient for you:
- e-mail: info@porscheleasing.bg
- post address: Porsche Leasing BG EOOD, гр. София, Mladost 4, Business Park Sofia, build. 12А, floor 2
New passenger cars are subject to technical inspection in the third year from the date of initial registration, and new light trucks in the second. After the first inspection, the car is again subject to such inspection annually. You can go to any workshop authorized to carry out annual technical inspections. For this purpose, you will need a copy of the large registration card and paid road tax for the relevant year, which you can get from Porsche Leasing.
Contact us: +359 (0)2 489 9100.You should immediately contact a Porsche Leasing representative who will give you instructions according to the specific situation.
Keep in mind that the absence of a key is a prerequisite for the insurer to refuse to pay insurance compensation in case of theft of the car, so it is absolutely necessary to take all precautions until the problem is solved and the car is in a safe place.
The instructions you will receive from Porsche Leasing will be agreed with the insurer to ensure insurance coverage after the problem has been rectified /ordering a new key or a set of new locks and keys/.
Contact a Porsche Leasing representative to request duplicates of the relevant documents. Porsche Leasing will provide you with a duplicate of the small registration card of the car, as well as the card and the Third-party Liability policy. You will need to visit an Annual Technical Inspection location to obtain a new annual car technical inspection card.
The maximum term of financial leasing contracts is 5 years.
The financial leasing contract can be terminated after the expiration of at least 6 months from its entry into force. The lessee must submit a prepayment application, in response to which he will receive from Porsche Leasing a statement of all amounts due for termination. After the payment of these amounts, the lessee receives the relevant invoices for the payments made and the car is notary transferred.
Yes, it is possible. In this case, the third party must provide Porsche Leasing with a complete set of documents to assess its creditworthiness. The documents can be found here.