Statistics
Leasing market 2024
New leasing business carried out in 2024 by members of our Association was 1,4 billion EUR, growing nearly 6% compared to 2023.
All vehicles: in 2024, vehicles were lease-financed for a total of 1,1 billion euros, which is 16% more than last year. The
total number of financed vehicles was 39 873, i.e. 5 393 pcs more than the year before.
Passenger cars were financed in the amount of 881 million euros, that is 20% more than last year, a total of 34 197 cars. The number of new cars financed in was 16 823 pcs, i.e. 1 777 pcs more than in 2023. As from 2025 new car registration fee and yearly tax will apply then until September, passenger car sales were lower than last year. In September, sales began to grow rapidly month by month, reaching a maximum in December. In December, 4 671 passenger cars were lease-financed by our members, of which 2 642 were new passenger cars. The corresponding numbers a year ago were 2 643 pcs and 1 584 pcs.
In total in Estonian 25 386 new
passenger cars were sold last year, which was 11.2% more compared to
the previous year and out of them 66% of which were leased. By the end of 2024, there are 8 388 electric passenger cars registered in the TRA traffic register, nearly half
of them are lease-financed.
Lease-financing of trucks/vans/buses was 235 million euros, 10 million more than a year ago. Vans were pulling the sales by 3 307 pcs in addition 2 369 pcs of trucks, busses and heavy vehicles were financed.
There was a 20% decline in lease-financing of machinery/equipment. Financing of forestry equipment (-42%), medical equipment (-27%), agricultural equipment (-23%) and construction equipment (-21%) fell particularly sharply. Only financing of production equipment (7%) and goods handling equipment (4%) showed an upward trend.
Primary contract terms show that 60% of the contracts were signed up to 5 years.
Leasing market portfolio balance in 2024 was 3.2 billion euros, increasing by 4% as of last year. The main contract type according to the lease portfolio was finance lease by 56%. Operating lease held 43% and other forms of contracts only 1%. These figures have been stable for many years.
The quality of the credit portfolio continues to be very good in the leasing sector. Lease payments overdue for more than 60 days are 0.1% of the entire portfolio.
Many of our members are also providing factoring services. The total factoring portfolio balance was 355 million euros, which is 5% less than in 2023. Factoring turnover decreased by 4,3%.
Leasing plays an important part in Estonian economy. According to the valuation of the Association and World Leasing Yearbook the annual leasing volume of Estonia, as a percentage of GDP has been one of world highest for the last fifteen years.
The Association has been in cooperation with Baltic collages and together we have launched PanBaltic Non Registered Assets Database (NRAD) to prevent double financing and to discover fraud not only in Estonia, but also cross checking Latvian and Lithuanian leased asset databases. So all assets financed by our members that are not registered on any other Baltic register are inserted to that database and cross examination is automatically performed. Results are very good and all the partners are satisfied with the outcome. Access is granted also to Tax authorities and Police - Border Guard Office.