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CONSUMER LEASING
Consumer lease is a lease involving an individual lessee, who leases
equipment for consumption purpose. The leased equipment in this case is for
consumption only and not for the purpose of generating further income.
A consumer lease can be accessed by going to a bank, finance company or any
individual lessor that lease out products. An agreement is entered into
through the completion of an application form by the customer with the
provision of certain important information about him and the asset to be
leased. The rentals may be deducted at source (From the Lessee’s salary) or
paid through post dated cheques drawn by the lessee.
Various items could be leased under consumer leasing and these are mostly
household equipment like generators, television sets, washing machines, gas
cookers, cars etc.
The concept was borrowed from the advanced countries where the economy
thrives on credit. To the larger economy, credit is an avenue for wealth
creation and it brings about higher capital utilization as a result of
higher purchasing power it gives an individual.
Consumer leasing has the ability to reduce financial stress and it could be
very effective in a country where a lot of the population are low / medium
income earners and are unable to afford items or equipments via outright
purchase. With consumer leasing however, life can be made easier and more
meaningful as acquisition of assets becomes relatively affordable through
structured payment. Employers of labor can partner with a leasing firm for
the consumer needs of its employees thus impacting on the morale of the work
force which will improve their productivity. It will also take away the
burden of providing loans to the employees thus leaving it to concentrate on
its core competences and maintaining adequate cash reserves.
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Download - Our Vendors List
EASI-LEASE-IT is a registered trademark
for C& I Leasing’s finance lease products. A finance lease is the means
through which an individual or a corporate organization can acquire and own
any assets of choice without having to make full payment at once or go
through the rigorous credit process of obtaining a loan.
There are four packages of this product that have been designed to meet our
clients’ needs.
EASI-LEASE-IT is a registered trademark for C& I Leasing’s finance lease
products. A finance lease is the means through which an individual or a
corporate organization can acquire and own any assets of choice without
having to make full payment at once or go through the rigorous credit
process of obtaining a loan.
There are four packages of this product that have been designed to meet our
clients’ needs.
1. Easi-Lease-It (Private) (Finance Lease Package for employees).
2. Easi-Lease-It ( Corporate) ( Finance Lease Package for organizations)
3. Easi-Lease-It (C.A.R.S) (Car acquisition and replacement scheme-a special
package designed to enable individuals and corporate organizations acquire
cars with ease.
4. Seasonal and product based promos to reward customers.
Which assets can be leased?
They include brand new cars (of various models), generating sets,
air-conditioners, computers, electrical/electronic equipment, kitchen and
laundry equipment, personal computers, laptops, DSTV and lots more.
How does it work?
A lease application form is duly completed by a prospective lessee for the
desired package and returned with a passport photograph, photocopy of
Identity card, most recent pay slips or bank statements and a proforma
invoice from one of our approved vendors. We then issue an offer letter for
the lessee’s acceptance. The lessee makes payment for the advance rental(s)
and issues postdated checks for the remainder and thereafter the asset(s)
requested is (are) delivered right to the lessee. It is that simple!
Any advance payments?
The lessee is expected to pay a security deposit, which is determined by the
chosen tenor of the lease and the asset value. The security deposit is a
multiple of the periodic rentals and is payable on acceptance of the offer.
Mode of rental payment
Preferably rental payments should be made either by monthly post-dated
cheques or salary deduction from company in favor of C& I Leasing Plc for
each set of payment. The size of the lease will depend on the monthly lease
rental. For individuals, the lease tenor ranges from three (3) to thirty six
(36) months depending on the value of the lease.
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This applies to staff whose company has been approved by us. For individuals
and corporate bodies not yet approved by us, we will require the under
listed documents before we can extend our finance lease:
Checklist for finance lease facility
1.Application for facility (Stating request and rationale for request).
2.Company and Directors’ Profile (Please, must be comprehensive stating
ownership structure).
3.Statement on Memorandum of Association and Company registration.
4.Audited Financial Statement
5.Management account and Bank Statement to date.
6.Statement of Current liabilities/Borrowings if any.
7.Proforma invoice addressed to C& I Leasing Plc.
For further enquiries, please do not hesitate to contact us.
Humphrey Ajaegbu (Head of Marketing) E-mail:
Humphrey.ajaegbu@c-ileasing.com
Fehintola Saiyepe (Unit Head, Finance Lease Abuja branch) E-mail:
fehintola.saiyepe@c-ileasing.com
Kalu Honest Chukwudi (Unit Head, Finance Lease, Warri branch) Email:
chybunky@yahoo.com
Doris Obi-Nwachukwu (Unit Head, Consumer lease, PH Branch) Email:
doris.obinwachukwu@c-ileasing.com
See the list of C & I Leasing Plc. Vendors
So, which is better, lease or buy?
You are always better off with a lease.”
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