90-pct vehicle leasing facility to come into effect today

Oct 29, 2015 (LBO) – Sri Lanka’s Finance Ministry said that a 90 percent loan margin of leasing facility for motor vehicles will come into effect from Thursday.

An official notice will be sent out to the government and private financial institutions today, the ministry said.

From September 15, 2015, the 100 percent loan to value was limited to 70 percent by the Central Bank of Sri Lanka.

However, considering the negative impact this might have on the market the Finance Minister stated that a 90 percent leasing facility will be given for motor vehicles.