Leases
We will buy that Asset for you!
You no longer have to burn a hole in your pocket to buy that Car, Mobile Device, Electronics, School Bus, Medical Equipment, Industrial Machine, and such other durables. With our Lease Finance, we will buy the asset for you immediately while you pay for it gradually with ease. This is our own way of helping you say hello to a life of comfort and pleasure!
Micro Asset Lease
The world around us is changing so fast and this is affecting the way we live and what we require for living. As technology keeps evolving, so are our individual needs and preferences keep shifting very rapidly with downside consequences for our finances. But with our Micro Asset Lease product, you no longer have to strain your monthly budget when you require an upgrade to your Mobile Devices, Personal Gadgets or those High-end Personal Accessories.
- Suitable for salary earners;
- Qualified Assets are usually consumer durable items such as Smartphone, Tablets, Laptop, Electronics, Refrigerator, Washing Machine, Air-Conditioner, Gas Cooker, etc.;
- Cost of Asset is a minimum of N50,000 and can be up to a maximum of N1.0million;
- Lease tenor or repayment period can be up to a maximum of 12 months;
- Lease rental is paid in equal instalments Monthly;
- No collateral is required but Advanced Rental may be mandatory;
- Asset title is transferred to the Lessee upon the payment of the final instalment.
Personal Asset Lease
Everyone desires to live a life of comfort, but our ambitions are often constrained by money. Even for those who are relatively financially stable, committing cash to acquire new assets can shave off a reasonable chunk of their savings or even disrupt their finances. Taking a lease is, therefore, often considered a financially smarter way to enjoy a higher quality of life without putting a strain on your finances. With our Personal Asset Lease product, we will buy an asset of your choice and you will take immediate possession, while you pay us over an agreed period with ease and comfort.
- Suitable for Individuals, Families, Businessmen/women and Sole-Proprietors;
- Qualified Assets are usually Brand-New Cars, Specified Pre-Owned Cars, Motor Bike, High-end Household Items, etc.;
- Cost of Asset is a minimum of N2.0million and can be up to a maximum of N50.0million;
- Lease tenor or repayment period can be up to a maximum of 4 years;
- Lease rental is paid in equal instalments Monthly, Bi-weekly, or Weekly as you may desire;
- Collateral may be required but Advanced Rental is mandatory;
- Asset title is transferred to the Lessee upon the payment of the final instalment.
Corporate Asset Lease
Corporate organisations normally require some vital assets to run their daily operations. With our Corporate Asset Lease product, you can finance those essential operational assets while preserving your cash resources for working capital requirements. This asset financing option opens a company to the benefits of tax efficiency and improved balance sheet management while providing a more affordable means to growing a business.
- Suitable for Corporate Institutions and Non-Governmental Organizations;
- Qualified Assets are usually Car Fleet, Furniture and Equipment, IT/Server Hardware, Corporate Inverter Systems, Generator, Commercial Trucks, etc.;
- Cost of Asset is a minimum of N1.0million and can be up to a maximum of N50.0million;
- Lease tenor or repayment period can be up to a maximum of 4 years;
- Lease rental is paid in equal instalments Monthly, Bi-weekly, or Weekly as you may desire;
- Collateral may be required but Advanced Rental is mandatory;
- Asset title is transferred to the Lessee upon the payment of the final instalment.
Specialized Equipment Lease
Institutions such as Hospitals, Construction Companies, Manufacturing Firms, Schools, Quick Service Restaurants, and similar establishments typically have the need for a wide variety of industrial and commercial equipment for use in their production, storage, marketing and administrative activities. Leasing these kinds of equipment (instead of outright buying) usually makes good business sense given that the lease option will help free up the capital or business cashflow that would have been invested in those assets.
- Suitable for mid-large Corporate Institutions and Organisations;
- Qualified Assets are usually Specialized Equipment such as Medical Equipment, Security Equipment, Digital Classrooms, Construction Equipment, Communication Equipment, etc.;
- Cost of Asset is a minimum of N10.0million and capped at our Single Obligor Exposure;
- Lease tenor or repayment period can be up to a maximum of 4 years;
- Lease rental is paid in equal instalments Monthly, Bi-weekly, or Weekly as you may desire;
- Collateral may be required but Advanced Rental is mandatory;
- Asset title is transferred to the Lessee upon the payment of the final instalment.
Sale-Leaseback
Did you know that you can refinance or leverage any of the assets you currently own? Yes, with our Sale-Leaseback product, you can convert your asset to immediate cash and yet, retain the possession of the asset and continue to use it as usual. Such asset could be a Motor Vehicle, Office Equipment, Medical Equipment, etc. You only need to transfer the title to the asset to us while you retain possession. You can then pay gradually for the leased value of the asset while you reclaim full ownership at the end of the agreed lease term. This is one of the ways we make life simple for you – talk of eating your cake and still having it!
- Suitable for Individuals, Businesses and Corporate Institutions with assets they can “sell” to us, and yet retain possession while we meet their immediate cash requirement.
- Cost of Asset is a minimum of N1.0million and can be up to a maximum of N50.0million;
- Lease tenor or repayment period can be up to a maximum of 4 years;
- Lease rental is paid in equal instalments Monthly, Bi-weekly, or Weekly as you may desire;
- Collateral may be mandatory but Advanced Rental is not required;
- Asset title is transferred back to the Lessee upon the payment of the final instalment.
Frequently Asked Questions
Individuals in paid employment, businessmen/women, Corporate Institutions, and Non-Governmental Organisations. Individuals must have worked for at least, 6 months, while Non-Individuals must have been in operations for at least, one year.
Various assets and equipment, so long as it is a durable item. These range from motor Mobile Phone, Home Appliances, Motor Vehicles, Furnitures, Office Equipment, and Soecialized Assets such as Medical Equipment, Construction Equipment, Farm Machinery, etc.
The lease rentals are structured to suit the cashflow of the Lessee (user of the asset), who can choose any of weekly, bi-weekly, or monthly payment frequencies. Any other payment frequency outside these is also possible but will be by special arrangement.
Lease tenor is typically from 6 months to 4 years, depending on the type/nature of the asset asset and the amount required
Advanced Rental is usually required to be paid by the Lessee to the Lessor, as a demonstration of capacity and commitment to the contract. The Advanced Rental is usually calculated as a percentage of the Cost of the Asset and the Lessor will be required to make this payment before the contract is validated.
The asset will be acquired in the name of FundQuest Financial Services Limited. But a transfer of ownership title to the Lessee will be processed upon the payment of the final instalment
No. The specifications of a leased asset can not be altered during the life of the lease.
Yes. All leased assets are insured under Comprehensive Insurance Cover with FundQuest noted as First Loss Payee.
Yes, but your employment income or business cashflow must be able to accommodate the increased instalment.
Certainly Yes. You will be required to send us a Pre-liquidation Notice. You will be able to save the interest that is yet to accrue as at the date of pre-liquidation
We will immediately commence the process for the transfer of ownership title to you. This process only takes a few days.
Unable to find a suitable product? You may wish to consider our Quest Suite of Savings/Investment bundles here or simply contact our Help Centre
