Example of a financial lease for a company

A company or individual wants to acquire a vehicle. It signs a financial lease agreement with a leasing company for 3-5 years. The agreement includes the following terms:

  • The company or individual uses the vehicle as if it were the owner for the entire contractual period.

  • They monthly installments that include both the value of the vehicle and the financial interest.

  • At the end of the contract, the vehicle becomes the property of the contractor with a price of 1 euro

Terms and conditions

GENERAL CONDITIONS

Currency: Euro

Financing: Up to 80% of the purchase price

Interest Rate: 12-month Euribor + 7.5% per year (Min. 8.5%)

Term: 12 – 60 months

Installment: Equal monthly payments consisting of principal and interest

FEES

Disbursement Fee: 1.5% of the financed amount

Early Repayment Fee: 3% of the settlement amount (for individual loans 2% in the first years and 1% in the last year)

PENALTIES

Late Payment Penalty: 10% above the contract interest for each day of delay on the unpaid amount

Who is Antigone Financial Enterprise?

Antigone Financial Enterprise was was awarded on 12.03.2021 from the Central Bank of Albania with the license and right to operate in the financial leasing market based on the regulation nr. 1 date 17.01.2013 “on licensing and exercise of activity by non-bank financial entities”.

Financial leasing is a financial instrument that helps the client to acquire a tangible asset. It is formalized trough a financing contract that deaminate the leasing period interest rate and the fact that the leasing company finances the purchase of the asset, by acquiring it ownership up to the full repayment of the client.

The core business activity for the company is to credit mainly companies, entities and   individual customers to fulfill their need in investing in movable assets, for example in car fleets and other production instruments.

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**Note: For exceeding 120 no. of payments, a group of 12 payments will be combined into a single payment number for better chart visibility.

Period Payment Interest Balance

Calculator Disclaimer

The repayment amount shown using this calculator is an estimate, based on information you have provided. It is provided for illustrative purposes only and actual repayment amounts may vary. To find out actual repayment amounts, contact us. This calculation does not constitute a quote, loan approval, agreement or advice by Antigone. It does not take into account your personal or financial circumstances.

Why is this a financial lease?

Because the company offers:

Lifecycle Control

Controls and fully uses the vehicle throughout its useful life

Risk Free

Takes on the risks and rewards that an owner would normally have

*  In accounting, this agreement is recorded as an asset (the car) and a financial liability (the debt for the lease payment).

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