Driving your own vehicle at a certain age is a very important moment in your expectations. Leasing is a very secure alternative for those who do not want to own the same vehicle for more than a few years or want to own a vehicle without spending extra money at once. Everything you need to know before you decide to lease your first vehicle is given in this handbook for beginners.
You must have completed the following to obtain a leasing facility at HNB FINANCE Company
HNB FINANCE Company offers leasing facility to anyone over 18 years of age to purchase any vehicle ranging from motorcycle to motor vehicle.
- Documents required for leasing facility and advance information
- Copy of valid identity card (National Identity Card, Driver’s License, Passport)
- Invoice of the issuer
- Minimum initial payment
- Documents confirming repayment (income certificate and bank statement or salary details)
- Business Registration Certificate or Audited Financial Statement (Company If)
- Payment lists
Plan for the future
You need to plan for the future to avoid leasing a vehicle that you do not like or that does not suit your needs. Even if the depreciation vehicle means that you have to pay a lower monthly fee, your need should be to get a depreciation vehicle over time.
Determine the amount you can pay
The amount you pay for the vehicle you lease may vary depending on your lifestyle. So, prepare your budget for the next three months and decide on the vehicle you want. The following points should be considered when estimating the budget.
Insurance – It is mandatory to have insurance insurance especially if your vehicle is leased. After the vehicle is insured, you will need to submit your insurance company HNB FINANCE insurance details.
Department of Motor Traffic Fees – The registration fee you have to pay to the Department of Motor Traffic will vary depending on the type of your vehicle. Use this link to find out about ratings for registration.
Stamp Duty – To know the stamp duty payable, see the document issued by the Inland Revenue Department of Sri Lanka. www.ird.gov.lk.
Lease period of the vehicle
You can determine the lease term according to your need. Choose a short-term lease if you change vehicles frequently. Choose a long-term lease from someone who wants to allocate money for the medium term.
Driving distance –
You must declare the estimated distance you expect to pay for the vehicle before you receive the lease facility for the vehicle. This is because an extra charge will be levied for each kilometer that exceeds the allowable distance. Therefore, underestimate the distance to minimize the amount to be paid.
Benefits of leasing a vehicle
Leasing is effective in many ways. It gives you the opportunity to drive a new vehicle with modern safety features, technological advancement and fuel economy. Likewise the choice of lease frees you from long-term obligations. You get the comfort and convenience of a new car.
In addition, when you lease at HNB FINANCE, you may receive benefits such as a lower monthly income, one-day on-demand service, on-demand service and leasing for both registered and unregistered vehicles. Branch network located across the country for your convenience is another boon for you. You can also use online leasing forecasting at your convenience.