Leasing companies
Leasing companies
Leasing companies
Introduction
These are companies that hold the ownership of large-value properties and rent them out for a monthly or annual fee.
They also provide the necessary financial facilities when purchasing properties on lease.
There are 34 licensed finance companies in Sri Lanka.
HNB Finance PLC
Commercial Credit and Finance PLC
AFC Finance PLC
DFCC Bank PLC
Amana Bank PLC
Bank Of Ceylon
Commercial Bank of Ceylon PLC
Hatton National Bank PLC
MCB Bank Ltd
National Development Bank PLC
Nations Trust Bank PLC
Pan Asia Banking Corporation PLC
Sampath Bank PLC
Seylan Bank PLC
Union Bank of Colombo PLC
Fintrex Finance Ltd
Lanka Credit and Business Finance PLC
L B Finance PLC
LOLC Finance PLC
Mahindra ideal Finance Ltd
Mercantile Investment & Finance PLC
Marchant Bank of Srilanka & Finance PLC
Multi Finance PLC
Nation Lanka Finance PLC
Orient Finance PLC
People’s Leasing & Finance PLC
PMF Finance PLC
Richard Pieris Finance Ltd
Sarvodaya Development Finance PLC
Senkadagala Finance PLC
Singer Finance (Lanka) PLC
Siyapatha Finance PLC
SMB Finance PLC
Softlogic Finance PLC
Let's learn about the leasing facilities of the three companies in the first stage and
how they are operating them.
This is one of the licensed financial companies in Sri Lanka. They provide various facilities to the people of the country.
1. Lease Loan Facility
2. Credit (Lifestyle) Loan - Micro Loan, Business Loan
3. Gold Loan
4. Deposit Service - Savings Deposit, Fixed Deposit
Looking at the implementation of the lease loan facility
,
After a customer who is seeking a lease loan facility has a discussion with the leasing agent, the agent will take the customer's national identity card and check whether the customer is able to obtain the lease facility and whether he has the ability to pay the monthly installments. If he is satisfied, the next step will be to provide the lease loan.gpd; The customer will appraise the value of the vehicle and advise the customer about the interest rate of their company and the company's interest rate. Then, when the customer is ready to enter into a lease agreement, he is required to submit the following documents. This company offers two types of lease facilities to the customer.
Micro Leasing
Auto leasing is a type of leasing where all leasing facilities for motorcycles and autos for less than 1 year are considered auto leasing.Auto Leasing
(Heavy Vehicle) Vehicles (Dual Purpose, Vehicle, Car, van) are included in these, 1 All the above-mentioned services are included in the above-mentioned services. They carry out three types of services.Lease
Auto Loan
Flexi Draft
Documents to submit for both
Upon receipt of the documents, the marketing officers records the customer's details in their account and takes a number. That number is monitored and recorded by the company's accountant. Then, using that number, an INA number is taken for that customer. This INA number is the number given to that customer to be a customer, guarantor or supplier in that company.
Based on this IN number, the call for assistance will be carried out by the TC Calcilation Marketing officer.
TC Calculation How will this be done? How much value does the customer get from the lease? It will be calculated based on the value, interest rate, and duration. This will also include the amounts the customer has to pay.
R.M.V Charge
Document Charge
Crip Charge
Valuation Charge
The same must be paid by the customer on the day the lease agreement is executed by the customer.
TC Calculation Based on that, after carrying out AP (Application) System It will be implemented in. That is, AP will record everything in their database, including vehicle details and guarantor details. Then, based on the AP, the documents received from the customer and the guarantor are consolidated and Marketing Officer All the documents are arranged by him and he confirms them as true copies and signs them. After that, the company manager checks them, supervises them, signs them and sends them to the company's head office (the head office) from his computer. Then, after reviewing the documents prepared by the Marketing officer and submitting them to their (folder), the will Marketing officer send an email (E-Mail) to the Office of the Registrar of Documents (please see the AP number of the document that has been reviewed and submitted)Credit Department If any documents are found to be incorrect and further documents are required to be submitted, an email will be sent to the marketing officer. If he corrects it, the documents will be prepared by the branch accountant (file). (By the Head office) A number will then be obtained. That number will be the customer's lease agreement number. After receiving the contract number (Facility Number), take that number (Leasing Agreement) from the company's lease agreement (LF Number) and print it into the application form and send an email (E-Mail) to view the application form.Credit Administration All the documents prepared by the branch should be consolidated (file) and fully reviewed and completed by the branch accountant and sent to the treasury office including the R.M.V. documents.
The documents sent are first checked by the R.M.V. Head Office and if they are correct, the R.M.V. documents will be transferred to the name change service within one day and if there are no errors in the other documents, the money will be sent to the issuer (Supplier) to his bank on the same day. The monthly installment must be paid on the due date. Failure to do so will result in interest of 0.5% after three days from the due date.
The company is currently operating mainly with three-wheelers under the leasing facility. Because the import of three-wheelers is prohibited. Also, the company is operating mainly with three-wheelers based on the perspective that the market value is high at present.
Interest rates (Rate)
1. HNB Finance PLC
Three-wheeler interest rates
2003 - 2005 = 32%
(H - J Vehicle)
2005 - 2012 = 28%
(Yz Vehicle)
After 2012 = 27%
Given above
1. supplier Lease The person who purchases the vehicle from the vehicle owner is the person who enters into the lease agreement - the person who purchases the vehicle. Supplier - Vehicle owner;
2. Sell & Lease Here, the supplier and the buyer are considered the owners of the vehicle.
3. Flexi Draft
Flexi Draft The customer who enters into a lease agreement will pay only the interest amount every month. How much lease money will he receive at the end of a year? He will pay the full amount and terminate the lease agreement.
Flexi Draft can be obtained only for one year.
If the customer receives the money before the end of a year, it can be completed.
Who else is taking advantage of this facility?
1. Those who think that they can sell the vehicle and get the money within a year.
2. Those who think that the amount will be available in some other way within a year.
They take advantage of this facility
Leasing companies
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