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Frequently asked questions

We have gathered below some of the most frequent questions regarding our car financing and insurance products. 

If your specific question is not listed below, please use the form below to send us your inquiry. 

Financial leasing

What is financial leasing?

Financial leasing concerns the operation by means of which a party, called a lessor, leases for a predetermined period of time the usage right over an asset whose owner it is, to a lessee/user, in exchange of a periodically paid amount, called the lease rate. At the end of the leasing period, the lessor is bound to observe the optional rights of the lessee/user concerning purchase of the asset, extension of the leasing contract without changing the leasing formula, or termination of contract provisions. The lessee/user may opt for the purchase of the asset prior to the end of the leasing period, but no sooner than 12 months.

What are the differences between financial leasing and operate lease?

Both for financial leasing as well as for operate lease, the lessor company is the car owner over the contract duration. At the end of a financial leasing agreement, the lessee pays the residual value and becomes owner. With an operate lease contract this is not possible - the lessee has to return the car.

HOW and WHERE can I pay the financial leasing instalments?

Full details on payment options are available here

What is the exchange rate used for the lease instalment?

The exchange rate used for the lease instalment is the NBR exchange rate valid on invoice issue day + 1%.

Operate lease

What are the differences between financial leasing and operate lease?

Both for financial leasing as well as for operate lease, the lessor company is the car owner over the contract duration. At the end of a financial leasing agreement, the lessee pays the residual value and becomes owner. With an operate lease contract this is not possible - the lessee has to return the car.

WHERE and HOW can you pay the operate lease invoices?

Full details on payment options are available  here

What is the exchange rate used for the monthly rent?

The exchange rate for lease rent is the NBR exchange rate valid on invoice issue day + 1%.

Can I purchase the vehicle after the operate lease agreement has expired?

At the end of the operate lease contract, the customer has to return the vehicle.

Car credit

WHERE and HOW can you pay the car loan instalments?

Full details on payment options are available  here

In what currency will I reimburse the loan?

The credit will be reimbursed in the same currency in which it was granted (RON, EUR).

If you wish to reimburse a loan in a foreign currency (for example EUR), but you use RON to credit your account opened with Porsche Bank, the bank will automatically perform the currency exchange on the instalment maturity date, in the credit original currency and the loan instalment will be collected.

When should I transfer the instalment amount to my account?

The maturity schedule attached as an annex to the loan agreement specifies the maturity dates for all loan instalments. The maturity date is the one when the amount must be in your current account (opened with Porsche Bank Romania).

We recommend you take into account the fact that Porsche Bank Romania does not charge cashing fees, however there is a 1 RON fee charged by The National Bank of Romania.

Are the loan instalments fixed over the entire loan duration?

The loan instalments are fixed for the loan entire duration only if you have chosen a product with a fixed interest.

In the case of variable interest loans, the first 3 loan instalments remain unchanged, however, subsequent to the third instalment, the loan rate will remain constant/increase/decrease depending on: the EURIBOR development for 3 months for loans in EUR and the ROBOR development for loans in RON - and you will receive a new maturity schedule every term.

Insurance

What is the risk inspection?

The risk inspection is a vehicle evaluation done by the insurer consisting of taking exterior and interior pictures of the vehicle, followed by an inspection questionnaire which the insured party/ user has to fill in.

The risk inspection is compulsory in the following situations:

  • if the vehicle is second hand 

  • if during the policy validity period the insured party did not pay the insurance premiums on time and the policy has been suspended.

Any damages reported during risk inspection shall not be indemnified by the insurer.

For risk inspections please call the following phone numbers +40 21 203 19 01 or +40 755 067 003.

How do I obtain a repair mandate from my CASCO insurer in the case of a damage?

To receive the damage repair mandate, all you have to do is to access My Account - our online platform which gives you all needed information regarding your contract.

Once you are logged in, you will be able to download the mandate within minutes.

In case you cannot access My Account, please contact us at: 021.208.26.00 or at: office@porschebank.ro.  

When and how must I pay the CASCO insurance?

Full details on payment options are available  here

What steps must I take to make sure that my car is CASCO insured when I leave the country?

Upon going abroad you need to have a Green Card insurance and a CASCO extension. If your MTPL and Green Card policies have been issued by the same insurer as the CASCO policy, the extension of the latter's validity is free of charge. If your MTPL and CASCO insurances have been issued by different insurers, we recommend contacting your CASCO insurer in order to find out if the extension is free of charge or involves additional costs.