SICOM Operating Lease is the solution to your financial dilemma when you are looking for rental options for your equipment.
An Operating Lease is simply a rental agreement. It is a contract that allows for the use of an asset, but does not convey rights of ownership of the asset.
The operating lease consists of two parties a) the customer (the lessee) and b) the company (the leaser). Essentially the company will purchase the assets for the lessee and in return as stated by the operating lease agreement, the customer will make rental repayments to the Company.
No residual value
The customer avoids the risks associated with ownership and has no residual value liability.
At the end of the operating lease agreement the customer may simply return the vehicle and owe nothing further which means no liability in terms of residual values.
(Terms and conditions apply)
This product is offered by
SICOM Financial Services Ltd
FSC License No.: LC06000053
Individuals & Corporate
What is a Lease?
A lease is a legal contract between the owner (Lessor), and the lessee (Customer) allowing the lessee to use a specific asset in consideration of rental payments over a pre-determined period of time while the lessor retains legal ownership of the asset.
Type of Lease
Finance Lease - A Finance Lease is an agreement stipulating that the lessee has to pay regular instalments to the less or over a pre-determined time period. It allows the lessee to make full use of the asset and disclose the assets in its books. The lessee has the option to acquire the vehicle at the end of the lease period by paying the residual value.
How to apply for a Lease?
Applications can be made by printing the attached documents relevant to you (i.e individual or corporate). Once you have completed the application form, it must be duly signed and returned with all the relevant documents.
Please ensure that you have submitted all the relevant documents to enable us to proceed rapidly with your application.
Do I need a security?
The leased asset is our 'security'.
What is the maximum amount I can get?
We can finance up to 100% of the Ex-VAT cost of the asset depending on your repayment capacity and the risk related to the asset financed.
What are your interest rates?
The interest rate is determined by the asset financed, risk related to the asset, your credit history, stability and ability to service the loan. Once you have submitted your application, we can assess it and provide you before you are committed to proceeding with the loan.
Can I settle the loan early?
Yes. You can repay your loan early.
If you want to settle your loan, you must repay the whole amount due. You must contact us to calculate the exact amount due as you pay interest up to the day you settle your account. There are other charges involved if you wish an early settlement. Consult your lease agreement for further details.