OREANDA-NEWS. September 09, 2014. The pan-Baltic survey organised by SEB shows that more than half of the people planning to buy a car in Latvia and Lithuania do not plan on spending more than EUR 5,000. Out of Estonians, 20 per cent plan to buy a car in the price range of EUR 10-20,000, while only 10 per cent of Latvians and Lithuanians plan on doing so.

“Since newer and more expensive cars are bought in Estonia, leasing remains the most popular option for funding a car purchase, used by more than a half of the car-buyers. Leasing is most used when buying new cars,” said Ainar Leppanen, Managing Director of SEB Liising.

“In Lithuania, less money is planned to be spent on a car and older, used cars are kept in mind when making a selection. As a result, every third car buyer plans to use leasing when buying a car. Latvians are more similar in their wishes to Estonians who prefer less used cars, if possible, and are more willing to use leasing when buying a car,” Leppanen stated.

For Estonians, Latvians and Lithuanians, the amount of monthly payment, interest and transparency of any extra expenses related to a lease contract are the most significant factors when choosing a leasing provider. “Leasing is a financial service that is chosen by a car buyer mainly based on trust towards professionals, whether the car is bought in Estonia, Latvia or Lithuania,” Leppanen said.

The survey was responded to by 2,754 people in Estonia, Latvia and Lithuania, out of whom 944 were men and 1,810 women aged 18-79.