MCSL's 'Minus Interest' package a boon to new vehicle buyers

by Ananda KANNANGARA

One of the oldest vehicle leasing companies in the country, Merchant Credit of Sri Lanka Ltd. (MCSL) launched a five-year vehicle leasing package `Minus Interest' last week for the benefit of clients who purchase new and unregistered motor vehicles.

According to the package, which has been introduced for the first time by a motor vehicle leasing company in the country, clients will not have to pay intertest during the fifth year of the five-year leasing package.

Addressing a press briefing, MCSL, Chief Executive Officer Hafees Rajudeen said his company has been providing financial solutions to customers during the past 28 years and this is the first time such an innovative facility of zero percent interest on the fifth year was introduced.

He said the final year interest is deducted from total interest receivable of the five -year leasing period.

"Our main objective is to offer prospective customers an excellentce service to improve their lifestyles. Under this special scheme, they could purchase motor vehicles such as cars, vans, jeeps and other dual purpose vehicles with a relief scheme,".

MCSL Marketing Manager Nilantha Jayanetti said if proper documentation is submitted, clients could obtain vehicles within a 24 -hour period and the package does not include any 'hidden' charges.