Some Tips on Leasing Cars,Buses, Jeeps and Sedan Vehicles

1.Make sure the terms of contract are spelled out clearly and written in black and white.

2.Have a mental instinct on the driver.The core point of the business is having a trustworthy and courteous driver who will

drive the leasee to anywhere he wants without hassles,complaints or unnecessary nagging.The driver or the operator as the case may be must be highly

trustworthy.

3.On the contract spell out who takes care of who,who buys fuel,who maintains the vehicle and who provides the driver.

4.Negotiate if you are not ok with the terms and costs of the leaser.

Promised to continue to release more tips on this thread on leasing.find below some more tips on Leasing in Nigeria;

First: Decide if leasing is right for you. Don’t make a snap decision, especially not one based on wants and desires. Be reasonable, consider a budget and calculate it several years into the future. Leasing requires some different responsibilities and includes different conditions than owning. In particular the length of time of lease are imperative,the more the duration the lesser the price. A leased vehicle or equipment has slightly more stringent maintenance and insurance requirements, and the car is expected to have minimal wear and tear at the end of the lease. Consider these variables. In addition to that, if you decide to cancel a lease for some reason, you will face a financial penalty. All these factors will affect some aspect of the contract and the finances.

Think it over carefully!

Second: Once you are sure that leasing is for you, begin researching the car,bus,jeep or equipment you want and make your choice on specifics. Be firm. Some dealers will try to guide you to another car. Be careful. If you picked a vehicle or equipment after researching and determining this is the car for you, stick with your decision. Test-drive the vehicle, just like you are shopping to buy the vehicle. If you choose a specific car or equipment, inspect it thoroughly.

Plz i'm considering leasing a payloader & a tractor, i will like to know the rudiments on terms n condition.HELP?

Please I have 20Tons Tipper Truck for leasing,do you have any good company that can handle it,and please advice further on the leasing method.

@KayB
Some rudiments on terms and conditions for leasing a payloader and tractor;

1.Make sure the engine is serviced and diesel is of high quality- sealed oil is preferred.

2.Make sure you discuss terms on leasing,most times the owner of the machine pays for the operator and takes care of any major or minor maintenance of the equipment.

3.You will be required to diesel the equipment so raise a budget for diesel for the operators.

4.Make sure you lease it as soon as you are ready to use it,the moment it leaves the owners yard it starts reading,you dont wanna pay for an equipment youre not using probably trying to get the site ready.

5.Be prepared to mobilize and demobilize the equipment from the owners yard to your site as you will bear the cost in most case scenarios.

Then finally most times its ideal for both parties to sign an agreement so that there wouldn't be issues along the line when the lease proper is running,that way everybody works on the safe side

@RMU
Some tips for leasing your 20 ton truck

1.Make sure you have a tracker installed on your tipper,that way you can keep track on your driver and on your truck anywhere it goes to,it also gives you the power to shutdown the track in case of eventualities.

2.Make sure the person you are leasing the machine to will be ready to provide diesel for the truck

3.Discuss on per trip or per day basis,this largely depends on the nature of the job,if the job requires the truck to go outstate then per trip is ideal,if its a short distance within a site area then you can consider per day leasing.Use your instincts and discretion to discuss terms.

I would suggest you to look for leasing companies around you or probably advertise it on nairaland section of business to business,you would definitely have some real people contact you genuinely on leasing the truck.

Hope this helps.

Brief Concept on Leasing of Cars and Equipments in Nigeria

Leasing is an art of giving out your property or asset for an agreed price over an agreed period of time.

Leasing can be practiced in any country of the world and has become popular as it takes away the pain and cost of buying when needed only for a specified period of time.

Land,property,vechiles,equipments can all be leased over a period of time.

Nigeria is a country of over 200 million people.The country is rich with oil and gas as its natural resource and consequently mainstay of its growing economy.Currently Nigeria is the 5th largest exporter of crude oil in the world and the second largest in Africa.

There is therefore a resultant influx of multinational oil and gas companies into Nigeria for the purpose of drilling and servicing rigs,oil pumps and maintining their oil and gas facilities.As a result there is need to acquire transportation ranging from hilux jeeps,coaster buses,Suv's and so on.The hilux jeeps or SUV's are used to convey expatriates from their office to site and from site to their office.Coaster and Hiace buses are used to convey staff members to the office from their agreed bus stops.This is a popular practice in Portharcourt,Lagos and Abuja which are three major cities in Nigeria.


There are thus lots of leasing companies in Nigeria who are in the business of leasing their cars and buses to these companies for an agreed time over a specified period of time.Construction and marine equipments are also acquired and also hired or leased for construction companies or marine companies respectively.

The need for lease and rent by these companies grow by the day and is becoming a growing an sustainable business in Nigeria.

The advantage of leasing is that you can use the equipment or vechile only for a period of time and return it back to the owner without actuall buying it.