WHAT DOES LEASING MEAN?
Leasing can be defined as contractual relation between two parties, the user and the owner of the vehicle that is a subject of the leasing arrangement, where the user gets right to use the vehicle and in the same time undertakes the obligation to perform a serial of periodical payments to the owner, that is to the leasing company during the leasing period.
The basic characteristic of such arrangement is removal of the ownership over the vehicle (leasing company) from its economical use (the user). This characteristic enables the user during the leasing period to use the vehicle that is the subject of the leasing arrangement without engaging own resources for purchasing it, that is without achieving the ownership of the vehicle. After the expiration of the leasing arrangement, in most cases the vehicle that was the subject of the arrangement is to be returned to the leasing company, but a great number of leasing arrangements give possibility for ransoming the vehicle by the user or new leasing arrangement to be made.
Subject of leasing in comparison with other forms of financing:
• greater possibility for adaptation of conditions of financing to individual needs;
• procedure for approval of financial resources is fast and simple;
• juristic persons can use certain influence of financing through leasing over the balance of condition and operating costs;
• clients with formal less credit-worthiness have the possibility for financing, as well as newly founded companies;
• usually, additional security measures for leasing are not needed, even for long-term period;
• financing of investments at some forms of leasing does not decrease credit potential and offers greater available working capital;
Annual income
As a rule, payment of leasing is calculated for the whole year. The advantage of such method is the fact that monthly installments in every interest term do not change and the price is distributed equally throughout the year. The interest rate and the principal of every leasing installment changes in accordance with the conditions agreed in amortization plan.
Residual value
With the Agreement for operation leasing the user of leasing pays only for real amortization of the vehicle during leasing agreement. Leasing company (the giver) is responsible for sale of property with its residual value and for compensation of the value after expiration of leasing agreement. The expensive properties or properties of high value have high residual value that means lower monthly installments and lesser load over your cash capital.
Term for payment
The agreed leasing installments get for payment at the end of the month which means that you use the vehicle and then pay for it.
Duration of leasing
Leasing agreement has certain fixed duration. It starts after the vehicle is delivered to the user and ends at the end of the period set in the agreement in case if all conditions of the agreement are fulfilled.
Purchase agreement
The giver of leasing purchases the vehicle at your selection and with term for delivery and payment conditions previously agreed between you and the supplier.
Credit appraisal
Before finalizing leasing agreement, we strictly check all potential risks connected with client’s creditworthiness, leased vehicle and the supplier on the basis of documents we will be given.
Warranties
In order to decrease or cover any potential risks, the giver of leasing can ask for warranties or bills of exchange.
Participation
Participation means payment performed by the user to leasing company before the beginning of leasing agreement.
Bill of exchange
Bill of exchange is the agreement where the guarantee agrees to pay the creditor (leasing company) in case of user’s nonpayment.
Warranty
All warranties, as well as other claims that result from purchase agreement are transferred from leasing company to the user of the leasing who gets right to implement them.
Taking over the risk
The user of leasing has the complete risk in case of carelessness in case of loss, disappearance (theft), as well as damage and complete demolition of leased vehicle.
Insurance
The user has to insure the vehicle against all potential risks and dangers during the leasing agreement. Leasing company has to be named as insured in all insurance policies.
NECESSARY DOCUMENTS
PHYSICAL PERSON
1. Pro forma invoice from the supplier of leased vehicle named to the giver of leasing (NATIONAL ALAMO).
2. Copy of ID card or passport. 3. Certificate for paid net salary for the last 3 months with certified summarizer.
4. Photocopy of property list
5. Besides these documents. D.T.P.U “Tujmada” DOOEL Skopje may ask for additional documents.
JURISTIC PERSON
1. Pro forma invoice from the supplier of leased vehicle named to the giver of leasing (NATIONAL ALAMO).
2. Current condition from Central Register.
3. Enclosure of a copy of document for deposited signatures in the bank at the gyro account of leasing user.
4. Copy of tax number issued by the Ministry of Finance
5. Balance of condition and balance sheet of success for the current operations year
6. Besides these documents. D.T.P.U “Tujmada” DOOEL Skopje may ask for additional documents.
NOTE !!!
The costs for processing of 1,5%+DDV (VAT) of the value that D.T.P.U “Tujmada” – dooel Skopje takes single-use at the beginning of the Business rent are not shown in the estimate for monthly rent of vehicle.