Coop Pank started offering car leasing in its stores

  • 2019-10-07
  • TBT Staff

From the beginning of October until the end of the year, Coop Pank is collaborating with Amserv to offer car leasing in the stores of Coop Eesti, where customers will be able to see the most popular Toyota models as well as review leasing conditions and file a pre-filled leasing application on the spot.

Martin Ilves, head of the leasing division of Coop Pank, notes that more and more people are viewing their car as fixed transport expenses, and the decision is made on the basis of the leasing payment which fits the family budget: “We have been working to make the leasing payment as affordable as possible. The vehicle can be purchased with a 0% down payment, and the residual value at the end of the 5-year operational leasing period is 45%. This is what allows us to set an affordable leasing payment.”

Mr. Ilves says that the process of buying a car has become more convenient than ever before. While customers would standardly go to a dealership and then file the leasing application and start waiting for the bank’s answer, Coop stores now allow the customer to file a pre-filled leasing application concerning the chosen Toyota model online first and go to the leadership only after the initial decision about the leasing has been received. “What we want is to make the client’s life very easy. We have taken course for the goal of allowing clients to have an overview of the best products in Coop stores,” Mr. Ilves explains.

The leasing payment for the cheapest option, a new Toyota Yaris, starts at 145 euros, and the most expensive model, Toyota Land Cruiser, could be yours for 469 euros per month. The interest rate on operational leasing with a 0% down payment and no contract processing fee starts at 2.9 per cent, and the residual value at the end of the 5-year operational leasing period is 45%.”

Some of the car models being offered will also soon appear on display next to large Coop stores. Mr. Ilves says that Coop Pank is planning to start offering other types of equipment, for example, ATVs, in the same way in the future.

Coop Pank, based on Estonian capital, is one of the five universal banks operating in Estonia. It has 15 branch offices and 28 banking points all over the country. By the end of August, the number of clients using Coop Pank for their daily banking reached 54,700. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The main shareholder of the bank is the domestic retail chain Coop Eesti comprising 330 stores.