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Leasing Planning
- What are conditions to be met in order to obtain the funding applied for with Tiriac Leasing as soon as possible?
- Presentation of a complete file, including all the documents required in view of settling the funding application
- The Confirmation of company details issued by the Trade Register does not indicate the registration of any documents or deeds related to any: bankruptcy, dissolution or winding up.
- Based on the calculation of certain financial indicators such as the current liquidity, degree of indebtedness, patrimonial solvability, interest coverage rate and commercial return rate, the company obtained a minimum of 3 points
- What are the main assessment criteria of a leasing application?
The assessment of a funding application is based on two criteria: financial and non-financial criteria. The main indicators considered are the following: the turnover, the degree of indebtedness, profitability, liquidity, to which the following will be added as main factors influencing the decision: the object of activity reported to the type of vehicle requested, the position on the market, the evolution of the applicant during the last years, the business plan etc.
- What are the conditions to be met in order for a newly established company to obtain funding?
The newly established companies are accepted for funding by Tiriac Leasing only in case of depositing certain guaranties. The guaranties accepted by Tiriac Leasing may be: performance bonds, promissory notes guaranteed by the bank, mortgage contracts or redeemed pledge contracts, the guaranty offered by a third party based on a guarantee contract. In case of guaranties offered by a third party, the guarantor shall also be subjected to an economic and financial analysis.
- What are the conditions to be met in order to assign a leasing contract?
The leasing contract may be assigned only based on the explicit agreement of the leasing company. The assignee has to submit for analysis the same set of documents which the assignor submitted when applying for the respective funding. If the assignee meets the evaluation criteria, the assignment will be accepted, after the payment of the analysis tax.
- Can the user give to a third party the right to use the goods representing the object of the leasing contract?
Like in the case of assignment, this is possible only based on the explicit agreement of the lessee. The user shall submit a written application to this purpose indicating the identification data of the third party to take over the use of the good The Lessor shall express its written agreement regarding this operation. The user shall remain liable for the fulfillment of all the obligations undertaken under the contract regarding the use and protection of the good, as well as for the payment of the leasing installments.
- What happens in case of complete damage or theft of the goods representing the object of the leasing contract?
The complete damage or the theft of the good are risk categories covered by insurance. In case any of these events occurs, after the performance of the lawful formalities regarding the finding of the event in case and after establishing the amount to be paid as damages, the following procedure shall be followed: a balance of expenses and revenues shall be drawn up, including all payments made based on the leasing contract (including any compensation granted by the insurance company) and all the expenses incurred on account of the good representing the object of the contract (expenses incurred with the customs formalities, vehicle registration etc). In case the revenues exceed the expenses, the resulting difference may be either used for the acquisition of a similar product based on a leasing contract or be made available to the user. In case the expenses exceed the revenues, the user shall have to pay the difference to the leasing company.
- Is it possible to close a leasing contract before its term?
The Leasing contract may be closed before the expiration of the initially agreed term, but not earlier than 12 months from the date the leasing object was handed over to the user (according to the provisions of G.O. 51/1997, as republished in 2000, the minimum duration of a leasing contract is 12 months).
- Is it possible to pay several cumulated installments in advance?
The payment of a number of installments in advance can be made based on a written application drawn up by the user and indicating the number of rates to be paid in advance and the date when the payment is to be made. Based on this application, the Lessor recalculates the interest, reduces the leasing period if case be (this period may not be less than 12 months) and issues an invoice for the payment of the indicated installments according to the new payment schedule, which represents an additional act to the leasing contract.
Leasing Period
- What does it mean to activate the leasing contract?
Upon signing the leasing contract, there is no due date indicated for the installments. When the leasing contract is activated, the leasing installments become due. The due date shall be notified to the user.
- When is the leasing contract activated?
The leasing contract is activated when Tiriac Leasing makes the payment for the funded good.
- When do the leasing installments become due?
The leasing rates are due every month/quarter starting with the date notified by Tiriac Leasing upon the contract activation.
- When do I have to pay the leasing installments?
The leasing installments have to be paid within 5 days from the due date, according to the contract terms.
- What happens if I do not pay the leasing rates in due time?
The leasing installments have to be paid within maximum 5 days from the due date, according to the contract terms. If the due date is not observed, penalties shall be paid, according to the contract terms.
- Do I have to pay the leasing installments even if I did not receive an invoice?
Yes. The leasing installments have to be paid within 5 days from the due date notified by Tiriac Leasing upon the contract activation.
The invoice is issued on the due date by the leasing company and sent to the client, but sometimes, for reasons beyond the control of our company, the invoice reaches the client later or does not reach it at all. In case the invoice reaches the Peripherals with a delay or does not reach it at all, you have to notify us by phone or fax and we will send you a copy.
- Why are the invoices delayed?
The invoices are issued on the due date and mailed. The mail circuit is beyond the control of Tiriac Leasing.
- What do I do if I did not receive an invoice or if I lost it?
You notify us by phone or fax and we will send you a copy.
- Why do I not receive the original documents of the financed asset (for instance, the vehicle registration document)?
The original documents of the financed asset remain with the owner. In the case of the leasing contracts, until the user pays all the leasing installments as well as the other contract obligations, the asset owner is the leasing company.
- When do I receive the original asset documents?
The original documents of the financed asset remain with the owner. In the case of the leasing contracts, up to the payment by the user of all the leasing installments and of the other contract obligations, the asset owner is the leasing company. You will receive the original documents of the financed asset upon the transfer of property, after paying all leasing installments and the other contractual obligations.
- What happens in exceptional situations when I need the original documents for certain formalities?
In case the original documents are absolutely necessary for any possible legal formalities, you can send us an application for approval. After that you have to fill in a form which you will sign and stamp and then you can either pick up the documents from our registered office or we can send them to you by fast courier. You shall return the said documents within 7 days.
- Why do I not receive the second key of the financed vehicle?
According to its internal procedure, Tiriac Leasing keeps the second key of the financed vehicle.
- When do I receive the second key of the financed vehicle?
You will receive the second key of the financed vehicle upon the transfer of property, after paying all leasing installments and the other contractual obligations.
- May I receive the vehicle key in order to make a copy?
Yes. After you fill in a form we will send you by fax, you may receive the second key. You shall return it within 7 days.
- What do I have to do if I lost the vehicle key?
It is compulsory to notify the insurance company where the vehicle is insured. The insurance company will open a damage file and they will provide you with evidence proving the opening of such file. After you fill in a form that you receive from us and after you present to us the evidence proving the opening of the damage file issued by the insurance company, we will give you the second key so that you may make a copy. You shall return the original key within 7 days.
- If I have changed the company data/ my personal data, do I have to notify you?
Any change of the company (legal entity) data or of the personal (natural person) data of the user shall be notified to Tiriac Leasing by a written address. According to the change in case, it is possible to require the conclusion of an additional act to the leasing document.
- Is it possible to end a leasing contract before its term?
The Leasing contract may be ended before the expiration of the initially agreed term, but not earlier than 12 months from the date the leasing object was handed over to the user. (according to the provisions of G.O. 51/1997, as republished in 2000, the minimum duration of a leasing contract is 12 months). The conditions under which the duration initially agreed in the leasing contract may be reduced are the following: full payment of the contract value, including its residual value.
- Can several cumulated installments be paid in advance?
The user may pay in advance the leasing installments. The payments made in advance shall amount at least to two royalties and may be effected only based on a prior notification sent by the User. Any payment may be made in advance only after the first 12 months of the leasing period. For the payments made in advance, Tiriac Leasing will charge a commission to the user, according to the tariffs charged by Tiriac Leasing at that moment.
- What are the conditions to be met in order to assign a leasing contract?
The leasing contract may be assigned only based on the explicit agreement of the leasing company. The assignee has to submit for analysis the same set of documents which the assignor submitted when applying for the respective funding. If the assignee meets the evaluation criteria, the assignment will be accepted, after the payment of the analysis tax.
- Can the user give to a third party the right to use the goods representing the object of the leasing contract?
Like in the case of assignment, this is possible only based on the explicit agreement of Tiriac Leasing. The user shall submit a written application to this purpose indicating the identification data of the third party to take over the use of the good Tiriac Leasing shall express its written agreement regarding this operation. The User shall remain liable for the fulfillment of all the obligations undertaken under the contract regarding the use and protection of the good, as well as for the payment of the leasing installments.
- What happens in case of theft or complete destruction of the financed good?
In case of theft or complete destruction of the financed good, you shall observe the lawful procedure stipulated for such situations – you shall notify the police authorities and the insurance company and you shall follow their instructions. Tiriac Leasing shall retain out of the compensation received from the insurance company the value of the invoices not paid yet, the remaining value of the respective contract (the installments that have not become due) and any possible import taxes. The complete damage or the theft of the good are risk categories covered by insurance. In case any such event occurs, after the performance of the lawful formalities regarding the finding of the event in case and after establishing the amount to be paid as damages, the following procedure shall be followed: a balance of expenses and revenues shall be drawn up, including all payments made based on the leasing contract (including any compensation granted by the insurance company) and all the expenses incurred on account of the good representing the object of the contract (expenses incurred with the customs formalities, vehicle registration etc). In case the revenues exceed the expenses, the resulting difference may be either used for the acquisition of a similar product based on a leasing contract or be made available to the user. In case the expenses exceed the revenues, the user shall have to pay the difference to the leasing company.
Ending the Lease
- What are the conditions to be met in order to extend the leasing contract?
The leasing contract may be extended in the following conditions:
- all installments should be paid up to date;
- the documentation necessary for the financial analysis of the client:
- balance+ balance sheet for the previous year bearing the endorsement of the State Revenue Office
- balance+ balance sheet for the current year
- extension application (maximum 1 year)
- the payment of all costs related to the contract extension (administration/ extension – customs, extension of license number)
- If I extend my leasing contract, which will be the new due date for the installments?
The due date of the installments will be established according to the term of the customs statements.
- if the customs declaration is due by 15 of the month, the due date will be 15 of the month
- if the customs declaration is due after 15 of the month, the due date will be 1 of the month
- Under what terms may somebody else buy the vehicle that I have in leasing?
The vehicle may be bought by another person at the end of the leasing under the following terms:
- in case the final buyer is a legal entity:
- the initial client should have paid all installments up to date
- the agreement by decision of the General Meeting of Associates of the company handing over the vehicle shall be submitted
- the agreement by decision of the General Meeting of Associates of the company taking over the vehicle shall be submitted
- the initial client should have paid all installments up to date
- in case the final buyer is a natural person:
- the initial client should have paid all installments up to date
- the agreement by decision of the General Meeting of Associates of the company handing over the vehicle
- copy of the IC of the person taking over the vehicle
- May I pay the residual value in cash?
Natural persons and authorized natural persons may pay in cash the residual value of the vehicle (based on a prior notification). For natural persons, the cash receipts are subjected to the lawful limitations in force regarding the maximum amounts that may be paid in cash.
- If I want my vehicle to be assessed, where can I go?
First of all the vehicle under a Tiriac Leasing contract shall be fully paid so that the user may become the owner of the vehicle. For the assessment of the vehicle you may contact the TiriacAutoRulate dealers.
- What do I have to do if I want to sell the vehicle under a Tiriac Leasing contract in order to buy a new one?
First of all the vehicle under a Tiriac Leasing contract shall be fully paid so that the user may become the owner of the vehicle.
For the assessment of the vehicle you may contact the TiriacAutoRulate dealers.
After the vehicle is checked in an authorized service and after the periodic technical inspection (ITP) is carried out, the car shall be sold to a TiriacAutoRulate dealer.The cashed amount shall represent the advance or part of the advance for another vehicle sold by Tiriac Auto, which shall represent the object of a new contract with Tiriac Leasing.
In case the owner is not interested in signing a new contract with Tiriac Leasing, the assessed vehicle may be may be consigned by the TiriacAutoRulate dealer.
- What are the conditions to be met in order to assign a leasing contract?
The leasing contract may be assigned only based on the explicit agreement of the leasing company. The assignee has to submit for analysis the same set of documents which the assignor submitted when applying for the respective funding. If the assignee meets the evaluation criteria, the assignment will be accepted, after the payment of the analysis tax.
- Is it possible to end a leasing contract before its term?
The Leasing contract may be ended before the expiration of the initially agreed term, but not earlier than 12 months from the date the leasing object was handed over to the user. (according to the provisions of G.O. 51/1997, as republished in 2000, the minimum duration of a leasing contract is 12 months). The conditions under which the duration initially agreed in the leasing contract may be reduced are the following: full payment of the contract value, including its residual value. The due date of the installments will be established according to the term of the customs statements. The vehicle may be bought by another person at the end of the leasing under the following terms: full payment of the contract value, including its residual value.
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Find out in just a few moments which is the monthly installment. The installment is calculated depending on the number of months and the earnest money that you deposit. |
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Find out what vehicle you can purchase, depending on the monthly installment that you deposit. |
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