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Thursday, 19 January 2017 - 8:44
New leasing scheme for vehicles comes into effect
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Central Bank of Sri Lanka has advised commercial banks and leasing companies to follow new regulations in granting loans for vehicle leasing including three wheelers.

The Finance Ministry said in a statement that the new circular has slapped additional controls over credit facilities afforded to three wheelers, limiting the credit ratio to only 25 percent of the value.

Currently, loans can be borrowed after paying 10 percent of the total value of a three wheeler which a borrower intends to buy.

Other commercial vehicles can be leased up to 90 percent of their value. 

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