Ministry Of Finance Had Implemented 90% Leasing Facility For Motor Vehicles

The 90% leasing facility for motor vehicles replacing the previous 70% leasing facility will  be implemented with effect from today(29) according to Ministry Of Finance.

The Central Bank is due to instruct all government and private banks officially regarding the new leasing facility for motor vehicles the Ministry has said.

The Central Bank had directed all Banks,Leasing And Financial Companies on 14th of September to implement maximum 70% leasing facility per vehicle.

Earlier vehicle owners can lease a motor vehicles at 100% of value of the vehicle which led the increasing of  vehicle imports  and traffic jams in Colombo Roads.