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The second largest investment an individual makes is the purchase of a vehicle. With that comes the multitude of questions about financing such a purchase. While traditional bank financing continues to be popular in St. Lucia, the last decade or so has seen a significant increase in alternative financing through Leasing. Simpson Finance Limited, has been in existence for five years in St. Lucia and has been providing flexible lease financing options to customers. A small team of friendly, dedicated, efficient and knowledgeable representatives operate as the in-house leasing company at JQ Motors. Located at Choc Estate, Castries, Simpson Finance makes getting into the car of your dreams as easy as possible. This ideal location allows Simpson Finance to offer attractive lease packages for new and pre-owned vehicles from JQ Motors, one of the leading car dealers on the island. This one stop shopping environment makes choosing and purchasing a car as hassle free as possible. Simpson Finance offers finance and operating lease options tailor made to suit private individuals and the corporate community. Priding themselves on speed, efficiency and flexibility, Simpson Finance guarantees feedback of approval within twenty-four (24) hours.

What is lease financing you may ask? It’s simple! The Finance Lease provides customers with the flexibility of leasing the vehicle for a specified period with a deposit injection. There are several financing options available which can allow the customer to repay over a specified term. •

Straight financing allows the customer to repay the full cost of the vehicle and at lease maturity, the ownership of the vehicle is transferred to the customer. Lease with the option to purchase allows for a lower monthly repayment by paying only a portion of the vehicle’s cost over the specified term, leaving a balloon payment due at maturity. This attractive lease with the

BusinessFocus July / Aug



option to purchase provides the customer with the opportunity of choosing to: 1. Present the final (balloon) payment in full, thus allowing transfer of ownership to the customer. 2. Finance the final (balloon) payment for an additional period of time until fully paid, the ownership of the vehicle is then transferred. 3. Trade in for a new vehicle. The Operating Lease is a strict rental of the vehicle from Simpson Finance to its customer. It has an added benefit of being an “off-balance sheet” item for accounting purposes. An operating lease allows the customer to pay a refundable security deposit and first month’s rental up front. The operating lease option also allows the customer to have the first right to purchase at the end of the lease at a negotiated price. This operating lease is ideally suited for the corporate clientele, looking to either provide executive vehicles to senior management or to add on multiple units to their existing vehicle fleet. Operating leases provide the additional benefit as it relates to the resale of the vehicle after its useful economic life making a renewal of fleet purchases a hassle free transaction. Simpson Finance is also able to incorporate insurance and standard maintenance packages in the operating lease. This convenience allows customers to have this true one stop shop environment. The market for lease financing has grown tremendously over the last few years. Simpson Finance, with over twenty years of leasing experience in the Caribbean, is well suited to attend to every customer’s diverse needs.

Different from the rest: •

Simpson Finance offers flexible finance package with payment plans range from 3 years to 7 years. Each plan is personalized to suit the customers’ individual budgeting needs.

St. Lucia Business Focus 82  

Our special feature in this issue is the 10th Anniversary of First Citizens Investment Services Ltd. which has grown into a regional powerho...

St. Lucia Business Focus 82  

Our special feature in this issue is the 10th Anniversary of First Citizens Investment Services Ltd. which has grown into a regional powerho...