Vehicle leasing loan facility increased from 70% to 90%

Finance Minister Ravi Karunanayake says the loan facility for leasing vehicles has been increased from 70 percent to 90 percent.

Addressing a media conference held at the finance ministry today, minister Karunanayake said this decision would remain until the next budget is presented.

The leasing facility to buy vehicles was granted in full before it was recently reduced to 70 percent by the current government.

Consequently, prospective buyers had to pay 30 percent of the value of the intended vehicle over the counter.

Minister Karunanayake said that the on-the-spot payment has now been reduced upto 10 percent with effect from yesterday