Documents Required to Lease a Vehicle

No matter how much we love a vehicle of our own, sometimes we give up this desire due to financial problems. But there is a way to make your dream of owning a vehicle come true even if you don't have a lot of money. That is the leasing facility. So when you go to buy a vehicle by leasing it in this way, the finance company asks for various documents. So today MotorGuide is telling you what documents are required to lease a vehicle.

1. National Identity Card/ Passport/ Driving License

To take out a lease, you definitely need one of these three, your National Identity Card/ Passport/ Driving License. The reason for this is that usually any lending institution in Sri Lanka gives a loan only to people between the ages of 18 - 60.
Now you have a problem, how do you give a loan or lease to a 58-year-old person. Can a 58-year-old person get a loan or lease? If you get one, the relevant institution will only give you a 2-year payment period.
However, you can extend the payment period by a few more years with special permission from the institution. However, this varies from institution to institution.

2. Light bill/ Water bill

To get a lease, you definitely need a document that proves your residence. Here, you can present a light bill or a water bill from your permanent residence. However, that bill must be a bill obtained within three months. Also, the bill presented in this way must be in your name.

However, if the bill comes in the name of your father or mother, you must present a copy of your birth certificate. Then the leasing company will clarify the validity of the bill.
If you are married, if your bills come in the name of the person you are married to, you can present your marriage certificate and prove the validity of the bill.

3. Correct the address

A light bill or a water bill in this way You have to face various problems when submitting. Especially, there may be changes in the address. Since the address in the light bill was taken a long time ago, there may be slight differences with the current address. Due to those differences, the leasing company has a high chance of rejecting your documents. So, if there are changes in the address in your bills, you need to obtain a certificate of residence confirmed by the Grama Sevak. However, this Grama Sevak certificate is valid for only 6 months.

4. Income Certificate

If you are working, you can submit your pay sheet for this. There, you can submit your last 3 months' pay sheets or salary confirmation. However, if you do not have a salary report, if the institution you work for pays salaries to the bank, you can get an update in that bank book and submit it to the leasing company.
Because the bank book mentions the money you receive monthly, you can submit the bank book as an income report.

5. CRIB One

A CRIB is a must-have for leasing. This CRIB shows your credit history. That is, the amount of debt you have taken, how you have paid off that debt, and all your credit transactions are included in this CRIB. So, any lending institution decides whether to give you a loan or not by looking at the CRIB.
If you have paid off your previous loans properly, you can easily get a loan or a leasing facility.

So these are the basic documents required to lease a vehicle. Today, MotorGuide, we said that if you take the documents correctly, you can easily and quickly lease a vehicle without any hassle.