In order to have your application resolved quickly, you must submit a full file containing all the required documents.
Furthermore, if you want financing for a vehicle purchase, you have access to 2 products with simplified approval: quick financing and startup financing.
The leasing company is the owner of the item until all the payment obligations are made in full and ownership is transferred. Therefore, a power of attorney is required in order to use the item outside Romania. In order to obtain this power of attorney, we offer you 2 alternatives:
Note: The power of attorney is issued subject to the invoices that are issued and due by the request date being paid.
The power of attorney to use the item outside Romania is issued for a period of 90 calendar days starting with the current date.
Upon issuing the lease agreement you can opt to include casco insurance premiums in the contract payment schedule or to pay the insurance premiums directly into the insurer’s bank account.
For lease agreements, the CASCO policy is issued based on a fixed premium applied on the value of the item in the first year of lease. This rate is an average rate, negotiated with the insurers and reduced according to the lease period. Furthermore, during the lease period the damage rate during the previous years of insurance is not taken into account and the insurance premium is not increased by it.
The CASCO policy is issued for the entire lease period plus one month, but at least until the residual value is paid in full by the lessee.
The risk inspection is a checkup of the vehicle performed by the insurer and consists of making photographs of its outer and inner appearance, followed by the inspection questionnaire being filled in by the insurance inspector and accepted by the user. The risk inspection is mandatory in the following cases:
Any damage found upon carrying out the risk inspection will not be covered by the insurer.
When leaving abroad you need the Green Card and CASCO extension. If both the motor liability policy and the Green Card are issued by the same insurance company as the CASCO policy, the latter is extended free of charge to cover the area of the Green Card. If you contracted the motor liability policy with a different insurer than the CASCO policy, or the destination/transit countries are not covered by the Green Card, you will have to pay an additional premium to extend validity abroad, at any branch/agency of the CASCO insurer.
The motor liability insurance will be contracted by the LESSOR, and its value will be invoiced with the next lease instalments after the insurance is contracted.
The policy becomes effective on the next day after the issue date. By way of exception, for new vehicles the motor liability insurance policy effective date can be the same as the insurance issue date.
When the motor liability insurance becomes effective it cannot be cancelled.
Starting with the next month after the one when the payment was made in full to the supplier or the item was delivered, whichever comes first, the lease agreement becomes effective, and the lease instalments and related costs stipulated in the lease agreement will be invoiced.
The insurer’s liability ends at 24:00 hours of the last day of validity in the insurance policy or, prior to that date, when the vehicle is deleted from registration or its ownership is transferred, as mentioned in the documents issued by the registration authority.
The insurance premium for the period between the date when the item is disposed of to another person and the expiry will be refunded to the Insurer, following pre-set calculation, directly to the user mentioned in the motor liability insurance under the following conditions:
Motor liability policies are issued directly from the insurer’s portal, requiring recording and storing the data in the insurance policy in the computer system of the issuing insurance company. Starting with 1 January 2010, the Financial Supervisory Authority provides a database with the mandatory motor liability insurance policies entered in Romania - CEDAM. Upon issuing the motor liability insurance, the CEDAM database will be queried for data on the damage rates for each insured item. This data is based on information sent by insurers to CEDAM.
You can check whether there’s a valid motor liability policy by querying the CEDAM database (joint database of insurance companies and Romanian Police), by accessing the internet address http://cedam.csa-isc.ro/. The check can be done by registration number or the vehicle frame serial number.
The damage is notified to the insurer immediately after it occurs or as soon as you become aware of its occurrence. You can notify by phone to the insurance company’s Call Centre/online on the insurer’s website/at their damage centre, and the notification involves providing details about the event.
In case of theft (both partial and total), it is mandatory to declare it with the Police Station with jurisdiction over the place where the theft was noticed, by calling the emergency service 112, within 24 hours of becoming aware of the disappearance. Also within 24 hours of notifying the Police, it is necessary to notify the theft to the insurer.
In order to open the claim file, you need:
In order to obtain the power of attorney to open the claim file, we offer you 2 alternatives:
You can open the claim file directly with the issuer of the motor liability insurance belonging to the person that is responsible for the accident or with the insurance company that issued the CASCO policy, which will then regress to the motor liability policy issuer. In this case, the CASCO policy will not be affected by the claim rate generated by the file open by regress.
If the person that is responsible for the damage does not have a valid motor liability insurance at the time when the accident occurs, we recommend that you involve the Street Victim Protection Fund, administered by the Bureau of Romanian Motor Insurers. This fund is used to compensate a third party that is damaged in a car accident where the vehicle or tram is not insured for motor liability (this covers both material damage and injuries, and the Fund will recover its money from the guilty person) or if the author remained unidentified (in which case the fund only covers bodily injuries). The existence of a valid motor liability insurance can also be checked by querying the CEDAM database.
The vehicle will be repaired in a service unit that is approved by the manufacturer, which is a requirement for maintaining the warranty given by the manufacturer.
The repair may be carried out in one of the partner workshops of the insurance company, with which it has direct settlement. The insurer will pay for the repair directly to the workshop, minus the deductible specified in the insurance contract.
If any such event should occur, after fulfilling the legal formalities for opening the claim file, the event is acknowledged and the damage/theft is qualified as total loss/theft, the insurer sends the total loss notice to the leasing company, including the calculation and determination of the compensated amount. Tiriac Leasing IFN S.A. will send the claim to the insurer and, after the compensation is received, the lease agreement is closed (Lease completion).
Unless the lease agreement stipulates otherwise, instalments are due monthly, the payment period for invoices is a maximum of 10 working days from the due date of the contractual obligation for which they were issued, as specified in the lease agreement.
The environment stamp fee is payable in the following cases:
In order to have your financing application resolved quickly, you must submit a full file containing all the required documents.
Furthermore, if you want financing for a vehicle purchase, you have access to 2 products with simplified approval: quick financing and startup financing.
In order to obtain a duplicate of a license plate, you need to send us a written request, accompanied by proof from the Police that the plate was lost (original) or a notarized affidavit to this effect (original).
Newly-established companies are accepted for financing by Tiriac Leasing. If you want financing to purchase a new car, you have the startup financing product available. To finance other goods or if you want a lower down payment, you can submit additional security. The accepted security may be: guarantee by a third party under a surety contract, letter of bank guarantee, promissory notes approved by the bank, mortgage or pledge without dispossession contract.
In order to recover a withheld registration certificate from the Police, you need to send us a written request, accompanied by the following documents: proof from the Police that the cause for which the certificate was withheld was corrected, copy of the protocol, and copy of the receipt for payment of the fine.
In order to facilitate the steps for completing the lease agreement and making the ownership transfer, approximately 45 days before the due date of the last lease instalment you will receive a notice with useful information regarding your option upon the completion of the contract (full payment and transfer of ownership/extending the lease period/transferring the lease to a third-party), and with respect to the ownership transfer.
The steps involved in completing the formalities for the ownership transfer are:
The invoice for the residual value, which will also include the expenses incurred by the Lessor to close the contract, will be issued within 10 days of the issue of the fiscal invoice for the last lease instalment.
After the ownership transfer is carried out, we will send you the following documents:
During the term of the lease agreement, you can repay the financing in full subject to a written request. According to the applicable laws, the early full repayment of financing is only possible after completing a minimum 12-month term from the date when you received possession of the leased item (in accordance with the provisions of Government Emergency Ordinance (OUG) 51/1997, as republished in 2000, the minimum term of a lease agreement is 12 months).
The novation of the lease agreement is possible at any moment of the contract, until the ownership transfer.
If the insurance company acknowledges the total theft or total destruction of the financed item, depending on whether the requirements for compensation are met or not:
BY BANK TRANSFER: You can pay with Money Order to the account and bank specified in the invoice. IMPORTANT - Fill in on the Money Order information about the number of the fiscal invoice being paid or the contract number, and if payment for your invoice is made by a third party, they should notify Tiriac Leasing additionally for the allocation of the paid amount.
CASH: You can pay cash at the cashier of the central headquarters in 8D Calea Giulesti, District 6, Bucharest, or by depositing the money at the bank into the account of Tiriac Leasing.
This is only possible with our prior approval. The approval will be issued based on a written request that should state the identification data of the third party that will receive the use of the item and will be accompanied by a copy of the identity document/VAT number of the individual/entity that will use the item.
We reserve the right not to issue such approval if no invoices are paid up to date or the individual/entity to which you wish to transfer the use is not acceptable to us. The user shall remain liable to fulfill all obligations under the contract regarding the use and protection of the item, as well as for the payment of the lease instalments.
During the term of the lease agreement, you can repay in advance several instalments or part of the principal.
If you want to pay lease instalments in advance, the lease agreement will not be amended, and the invoicing for lease instalments will resume starting with the next due date after the last due date for which the invoice was issued in advance.
If you wish to pay part of the principal in advance, the interest will be recalculated accordingly, without affecting later due dates and the lease term.
The payment term for the invoices is not affected by whether they are received or not; invoices must be paid within the time stipulated in the contract.
Lease agreements may be amended via addendums, following a request from the legal representative of the legal entity user/of the individual or licensed individual user. Requests for the amendment of lease agreements are sent to the financer in writing, using standard forms that are made available to customers.
The fee for the issue of addendums to the lease agreements may vary, depending on the nature of the provided service and is according to the company’s pricing at the time when that service is provided.
It is possible to schedule instalments for the residual value of the lease agreement if, after extending the lease period, the age of the item would not exceed 7 years at the end of the extended lease period, and approval may be obtained by updating the financing file and carrying out a new risk analysis.
Any change in the company data (legal entities) or personal data (individuals) of the user must be notified to Tiriac Leasing IFN S.A. by a written notice. Depending on the respective change, it may be necessary to enter an addendum to the lease agreement.
In order to change the company name or the user name (in case of an individual) under the lease agreement, you need to send us copies of the following documents by fax or e-mail: