New Lease

Mar 06, 2009 (LBO) – A Sri Lankan motor company is offering a ‘buy now, pay later’ auto leasing scheme, which it hopes will boost sales that have plunged with the economic slowdown.

The new leasing facility introduced by Associated Motorways (AMW) allows potential customers to purchase a Suzuki M800 car today and commence lease installments payments after six months.

Nations Trust Bank (NTB) and Capital Leasing are extending leasing facilities to AMW.

Customers interested in the leasing package would be required to make a deposit which would vary according to their financial risk profile.

“With this we are planning to increase our sales volumes,” said Ravi Yatawara of Capital Leasing.

The scheme will be available only till March 31, 2009.

Nissan Motors and Yamaha Motors of Japan, Renault Motors of France and Italian light vehicle manufacturer Piagio are represented in Sri Lanka by AMW.

Car sales have slumped in Sri Lanka.

The listed Diesel Motor Engineering Company, sales agents for Mercedes-Benz, and United Motors Lanka, representing Mitsubishi Motors Corporation of Japan, both posted December quarter losses.

AMW’s sales have been fa