Finance Ministry to enforce new leasing scheme

Finance Ministry to enforce new leasing scheme

Finance Ministry to enforce new leasing scheme

Written by Keshala Dias

18 Jan, 2017 | 8:31 pm

The Ministry of Finance has taken steps to enforce the new leasing scheme proposed through the 2017 budget.

The facility afforded to purchase three-wheelers,  after paying 10% of the total value of the vehicle, has been revised. As a result, prospective buyers now have to pay 25% of the value as a down payment.

The Ministry of Finance is of the opinion that new regulations imposed on loans will have an impact on leasing out of three-wheelers.

The down payment required to lease a car or a van which earlier stood at 30% of the vehicle’s value has now been raised to 50%.

The percentage for lorries and buses has been increased to 90%.

The release issued by the Ministry of Finance notes that the new regulations will not be applicable to those in the transport sector and those in the tourism sector.

It was pointed out that they will be able to enjoy a 100% lease out for vehicles.

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