Buyleasing

[RehanaA]

Hi all,

I'm thinking of getting a leasing facility from HSBC - I've spoken to a customer care guy and have got the necessary info. Is this a good decision to take a vehicle lease from HSBC?

Has anyone here taken or know something about getting a vehicle lease from hsbc? Is there any hidden payments which I will have to deal with later on?

Thanks in advance

RA

[Sylvi]

Hi all,

I'm thinking of getting a leasing facility from HSBC - I've spoken to a customer care guy and have got the necessary info. Is this a good decision to take a vehicle lease from HSBC?

Has anyone here taken or know something about getting a vehicle lease from hsbc? Is there any hidden payments which I will have to deal with later on?

Thanks in advance

RA

'RehanaA',

HSBC delays little.Try Peoples leasing at their Kollupitiya Land mark buildind .Minumem paper work 1 days srrvice. I got 600000.00 in one day.

Sylvi Wijesinghe.

Edited May 6, 2012 by Sylvi

[Crosswind]

Irrespective of who the lessor is, what u need to do is ask the following questions, not just the interest rate.

1. If i am to go for an early settlement, what additional charges do i have to pay?

2. If the central bank interest rate changes, what will happen?

3. If my repayment gets late by 1 day, what will be the interest?

4. What r the criteria for delinquency as per bank definitions?

5. Can i get insurance from the company i want?(be strict on this )

I also suggest getting everything they promise, in writing. I had a terrible experience with HSBC. Almost took them to courts and that had them begging at my feet.

[RehanaA]

hi crosswind..

Can i get insurance from the company i want?(be strict on this )

any recommendations?

RA

[Crosswind]

hi crosswind..

any recommendations?

RA

first of all u also need to check with the lessor on which insurance companies they accept.

U can search the forum about insurance companies.

[Sylvi]

RA,

Commercial Bank gives the option to Insure any Insurance company you like. I have one vehicle lease to Commercial bank. The interest was 12.5%.

Peoples leasing wanted their leasing company to insure.The interest was 14%. Unlike banks time factor it was important to me.

Any way try with HSBC, and stick to Crosswind advice he has given some valuable advice.

Sylvi Wijesinghe

[RehanaA]

thanks both of you!

hsbc gives the freedom of selecting any insurance company.

that's a very good interest rate you've got from com bank. I think hnb is even better (not sure though). hsbc is 17.5% (oops!!)

RA

[Crishan]

thanks both of you!

hsbc gives the freedom of selecting any insurance company.

that's a very good interest rate you've got from com bank. I think hnb is even better (not sure though). hsbc is 17.5% (oops!!)

RA

Rehana,

HSBC does not ask for down payments. If your loan is approved for 2 Mil, you can purchase a vehicle for the whole amount. But afaik, in leasing you have to make a down payment & the vehicle registration will carry the name of the leasing company.

Forgot to mention that HSBC offers car loans not leasing.

Edited May 6, 2012 by Crishan

[RehanaA]

thanks crishan - you're correct.

...HSBC offers car loans not leasing.

RA

[NPP]

would like to know why you selected HSBC.

[RehanaA]

hi npp...

they offer loans even up to the total value of the vehicle... (i don't h ave anything closer to that amount in hand)

RA

Edited May 6, 2012 by RehanaA

[RehanaA]

first of all u also need to check with the lessor on which insurance companies they accept.

U can search the forum about insurance companies.

thanks again crosswind

http://www.autolanka...__fromsearch__1

RA

Edited May 6, 2012 by RehanaA

[Crosswind]

thanks again crosswind

http://www.autolanka...__fromsearch__1

RA

To my understanding, the general impression of Mbsl is pretty bad in this forum. Although I've never been with aviva, I heard they r pretty professional. I stick to a couple of other companies because of personal contacts so I never had any dealing with Aviva.

[CARBON B4]

I have a loan from HSBC, they called it a personal loan to be paid over 5 years, on a floating rate. So far no issues with them.

But I have heard that Peoples Leasing gives the best rates.

[RehanaA]

... Although I've never been with aviva, I heard they r pretty professional...

Great - I know few guys at aviva!! will get in touch with them.

I have a loan from HSBC, they called it a personal loan to be paid over 5 years, on a floating rate. So far no issues with them....

Since when have you been paying this loan?

RA

Edited May 8, 2012 by RehanaA

[CARBON B4]

Since when have you been paying this loan?

Almost 2 years now... Rs 2 Mn loan, installment is something like 45k. If the loan is over Rs 1Mn they upgrade you to something called advance and give you 0.5% lower than the normal rate.

[pug306xsi]

RA,

Commercial Bank gives the option to Insure any Insurance company you like. I have one vehicle lease to Commercial bank. The interest was 12.5%.

Peoples leasing wanted their leasing company to insure.The interest was 14%. Unlike banks time factor it was important to me.

Any way try with HSBC, and stick to Crosswind advice he has given some valuable advice.

Sylvi Wijesinghe

Didn't somebody on the forum said he had a issue with Commercial leasing and everyone advised to stay off it?

if I remember the incident was when he was selling the car he could not settle the remaining payment and could not sell the car.

Please search here before you get any leasing.

Edited May 8, 2012 by pug306xsi

[terrabytetango]

I too have a personal loan from HSBC for 600K, installment comes at 14K and some change for 5 years fixed, no issues so far. Loan was approved July last year.

[jehan80]

I too have a personal loan from HSBC for 600K, installment comes at 14K and some change for 5 years fixed, no issues so far. Loan was approved July last year.

Just what kind of issues are ya'll expecting for a loan repayment??

[jaga]

My advice is not to go for a floating interest rate these days. Tendency is always to increase the interest rate day by day.

[terrabytetango]

Just what kind of issues are ya'll expecting for a loan repayment??

Its not the repayment as much as the trouble one might run into trying to obtain it that she's (and most loan applicants) worried about.

Edited May 9, 2012 by terrabytetango

[Sylvi]

Didn't somebody on the forum said he had a issue with Commercial leasing and everyone advised to stay off it?

if I remember the incident was when he was selling the car he could not settle the remaining payment and could not sell the car.

Please search here before you get any leasing.

'pug306xsi',

I sold a vehicle with 1year 4 months before the lease was over, paid the full payment two years ago. they gave me the papers without any trouble.

But they are very slow takes about 30 days to give a lease.

Sylvi Wijesinghe.