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EU: cross-border leasing possible?

Discussion in 'Model S: Ordering, Production, Delivery' started by Greggy, Aug 21, 2013.

  1. Greggy

    Greggy New Member

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    Slovakia
    Hi,

    I'm originally from Belgium and there it is simple when you want to buy a car. You get a loan at the bank and that's it :biggrin:

    Now I'm living in Slovakia and things are done differently here. The bank only wants to give 25.000EUR for a car...which is a lot according to Slovak standards.
    So, 2nd option is then to go to a leasing company. Most of the companies reject because 1) the car is too expensive 2) there's no service center in Slovakia.

    I found 1 leasing company which wants to lease the car, but on the condition that I pay 50% (VAT included) because my company doesn't have a long history. :mad:

    So, I'm wondering if there are leasing companies in the EU which provide cross-border leasing for Tesla cars?
    I've found ABN Amro bank in The Netherlands, but they don't provide their service in Slovakia and the minimum to spend, should be 1 million EUR. :scared:

    If somebody knows some more companies, please feel free to share them.

    Thanks a lot,
    Gregory
     
  2. widodh

    widodh Model S R231 EU

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    Location:
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    Try Athlon Car Lease, also a Dutch company.
     
  3. Amberes1967

    Amberes1967 New Member

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    Location:
    Galanta SK - Antwerp BE
    Hi Greggy,

    I am in similar situation, SK - BE
    Can't find cross border leasing company.
    Did you already find one ? Would appreciate your help.

    Met vriendelijke groeten,
    S pozdravom,

    Amberes1967
     
  4. Mario Kadastik

    Mario Kadastik Active Member

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    Rae, Harjumaa, Estonia
    I searched a long time and didn't find anything. In the end I went with our local leasing company and came to the agreement that I funded 40% upfront and there's a residual value after 5 years of 20%. Therefore they only fund 40% (well in reality initially they fund 60%, but I guess they were ok with the residual value part). They also don't want to fund over 50% of the car because they're afraid of the residual value and depreciation curve due to it being unknown. And I asked from Allianz and various other companies and never found anyone who would offer you something if you didn't have a company registered in said country. Seems that what I hoped EU would be useful for is really not happening at least in finance sector, same for insurance.

    So if you think you are frustrated with financing, start asking for quotes on insurance, that's what blew my mind until I was able to convince the banks own insurers of the car and got a semi reasonable quote (about 2x more expensive than equivalent gasoline car, but not 8x more expensive).
     
  5. Greggy

    Greggy New Member

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    Hi amberes1967, unfortunately not. I gave up. When I was in Switzerland, a sales representative told me that Tesla is looking to set up a construction so that it would be possible to lease from Tesla directly. Just like they do now in the USA. I'm waiting for that moment :)

    Btw, nice to see that another Flemish person is living in Slovakia :D

    Groeten,
    Gregory
     
  6. medved

    medved Member

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    #6 medved, Mar 19, 2014
    Last edited: Mar 19, 2014
    Hi guys, welcome to Slovakia :). Just found this thread today. We have not used any leasing but we did have to borrow some cash for the Model S. So we just took a line of credit for 35.000,- Euros from our bank in Slovakia. Nobody asked us what do we need the money for. Just signed some papers and the next day the money was on our account. So it all depends on your credit history, i guess.

    Did you guys try www.vbleasing.sk? Last year I was looking, informatively, for leasing companies and that is what i found. Around 30% down is no problem. Other options could be CSOB Leasing, Tatra Leasing, UniCredit Leasing.
     
  7. medved

    medved Member

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    #7 medved, May 29, 2014
    Last edited: May 29, 2014
    I had a meeting with CEO and a chairman of one bank (mentioned above) in Slovak Republic. Had him drive mine Model S. He said he is a fan of a new technology like Tesla and he is willing to do as much as he can to help with leasing or financing. But as already stated by Mario, the main problem is that Tesla is not officially registered in Slovakia and also there is no one to guarantee that the bank will be able to sell the car once the client becomes insolvent. I guess normally Tesla guarantee buyback in such situation.
    Anyways if you guys are still interested, i can give you his contact and you can talk directly with the CEO. They will asses each case individually.
     
  8. Mario Kadastik

    Mario Kadastik Active Member

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    Well in Estonia one bank did step up. They are willing to finance Tesla Model S cars even though Tesla is not registered in Estonia. The financing conditions are pretty conservative, but they do offer it. It happened when Tesla's nordic director came over to Tallinn and we visited a couple of banks. The local bank immediately confirmed, the bigger one is still in negotiations with Tesla, but may start to offer it too. Tesla also said that they have no problems taking the cars back if the deal falls through as they can realize them within hours/days usually ;)
     
  9. medved

    medved Member

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    Hi Mario, I contacted Tesla and they told me they have no Resale Value Guarantee in Estonia.
     
  10. Mario Kadastik

    Mario Kadastik Active Member

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    No, there is no resale value guarantee. The leasing company allows you to leave a certain residual for your own self, but there is no RVG.
     

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