ComBank and Ideal Motors offer special deal on lease of Mahindra commercial vehicles

Monday, 25 February 2019 00:00 - - {{hitsCtrl.values.hits}}

The Commercial Bank of Ceylon and Ideal Motors Ltd. have joined hands to offer attractive discounts, reduced lease rentals and other benefits to customers leasing Mahindra branded commercial vehicles.

The discounts offered by Ideal Motors will be applicable until 31 March under this promotion supported by Sri Lanka’s benchmark private bank with competitive lease rentals.

Lease rentals start as low as Rs. 2,300 for every Rs. 100,000 for a five-year lease, with three-year and four-year leases also assured of a reduction on published lease rentals, the bank said. A hassle-free process, speedy approvals and customised rentals to match income patterns are among the attractive features of leasing offered by Commercial Bank.

Ideal Motors has been the sole authorised distributor for Mahindra motor vehicles and motorcycles manufactured by Mahindra & Mahindra Company Ltd., since 2009. It is a fully-owned subsidiary of the Ideal Group which has core business interests in motor franchise imports and motor spare parts in Sri Lanka.

To date, Ideal Motors has sold over 65,000 Mahindra vehicles in Sri Lanka which the company says is a unique achievement in such a short span of time. Ideal Motors has achieved a market share of over 50% in the Light Truck category, competing against major players who dominated the market for many decades. Ideal Motors offers the entire range of Mahindra vehicles from a two-wheelers to trucks, buses and earth masters as well as generators.

The promotion with Commercial Bank covers the full range of light, medium and heavy duty trucks, double cabs, tippers and buses and all vehicles conform to EURO4 standards. More details on the promotion can be obtained from Commercial Bank branches island-wide.

The only Sri Lankan bank to be ranked among the world’s top 1,000 banks for eight years consecutively, Commercial Bank operates a network of 266 branches and 830 ATMs in Sri Lanka. The bank has won multiple international and local awards in 2016 and 2017 and over 40 international and local awards in 2018.

Commercial Bank’s overseas operations encompass Bangladesh, where the bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a microfinance company in Nay PyiTaw; and the Maldives, where the bank has a fully-fledged Tier I bank with a majority stake.