Asset Lease Finance is a contract between the Bank and the Customer for the purchase of a specific asset. The lessee has possession and usage of the asset against payment of specified rentals and other usual charges / fees, while the lessor retains ownership of the asset.
- Assets such as vehicles &/or equipment
- 48 Months repayment period
- At the end of the period, the Lessee either returns the asset, takes up the option to purchase at a new residual price
- Reaping tax pricing advantages (VAT exemption)
- Access to the better (latest) and innovative models
- Cost effective way of spreading costs