DFCC Bank and Toyota Lanka Introduce Sri Lanka’s First 10-Year Lease for Brand-New Toyota Passenger Vehicles
Colombo, Sri Lanka, DFCC Bank, in partnership with Toyota Lanka, has introduced a new leasing proposition for brand-new Toyota passenger vehicles, combining a tenure of up to 10 years with residual value options of up to 50%.
This is Sri Lanka’s first 10-year leasing facility for brand-new Toyota passenger vehicles. The proposition was formalised through a Memorandum of Understanding between DFCC Bank and Toyota Lanka.
The facility is designed to give customers greater flexibility in managing the monthly financial commitment associated with purchasing a brand-new vehicle. The combination of the extended tenure and residual value option can reduce the monthly rental by approximately 20% compared with a five-year lease, depending on the applicable interest rate, tenure and residual value selected.
The residual value is calculated against the amount financed and remains payable at the end of the initial lease.
Customers who prefer not to settle this amount as a lump sum at maturity may apply for a fresh five-year lease facility. The new facility will be subject to a separate credit evaluation, approval and the lending terms applicable at that time.
Commenting on the partnership, Thimal Perera, Director and Chief Executive Officer of DFCC Bank, said, “Customers need financing that considers both what they can afford each month and how they will meet the amount due at maturity. By combining a longer tenure with residual value options and a further financing pathway, we are giving them greater flexibility to plan both. It reflects our commitment to developing practical solutions around the way customers manage their finances.”
The proposition is intended for salaried professionals, self-employed individuals, SME owners and business owners seeking a brand-new Toyota passenger vehicle for personal or everyday mobility subject to final validation by the Bank. By lowering the monthly commitment, it may help eligible customers balance vehicle financing with their other household and business responsibilities.
Manohara Atukorala, Managing Director and Chief Executive Officer of Toyota Lanka, said, “Our partnership with DFCC Bank gives customers a more flexible way to plan the purchase of a brand-new Toyota. It combines practical financing with our island-wide network, comprehensive after-sales care and dependable service support, we are committed to delivering a rewarding ownership experience and helping customers approach their journey with Toyota with greater confidence.”
