LOLC Motors Value Quality Trust

Transcription

1 LOLC Motors Value Quality Trust

2 Value Our primary motive, to provide accurate value while creating value for our customers. Quality Our mission, to be the benchmark in valuation services, setting the standard for the entire industry. Trust Our promise, to be an honest business, one that is trusted by customers all over Sri Lanka.

3 1 Contents Introduction 02 Vision and Mission 03 Services 04 Specimen Valuation Report 08 Group Structure 10 Operational Structure 11 Fee Structure and Company Information 12

4 2 Introduction LOLC, since introducing leasing in Sri Lanka in 1980, has been associated with the financing of vehicles and equipment for well over 30 years and has been a pioneer in introducing the masses to quick and easy financing for all their needs. Setting its roots in the capital and later moving outwards in expansion, LOLC witnessed how other banks and financial institutions followed suit, decentralising financing operations for vehicles while giving rise to other ancillary services that required an equal reach. With this movement and expansion in mind, we understood the need for one of the most important aspects of financing; accurate and professional valuation of assets financed. Considering the dearth of standardised valuations in the country, we took into account the competitive atmosphere of the financial industry plus the value of time and convenience of our consumers, culminating in an idea that would see LOLC filling the gap of a quality valuation service. Established in 2008, the LOLC Motors Valuation Unit recognised the need to provide its services as a reliable valuer, which would maintain standards and quality while utilising the resources available in regions all over the island. Since valuation is a key service that is integral in the financing of vehicles and other equipment, we hope to eradicate questionable and unreliable reports while keeping the decision process as streamlined and as simple as possible. Furthermore, in following through with the vision of a country-wide valuation service, we are continuously adding professional valuers to more and more regions. Our team comprises of qualified, experienced valuers who have added value through further technical knowledge so that reliable valuations can be issued from all over the country. Through our valued service, we hope to benefit banks and financial institutions as well as consumers in making informed decisions while as creating uniformity in all regions with scientific and professional valuations.

5 3 Exceptional service has always been a foundation through which we create trust, quality and lasting relationships and we are proud to offer you a wide selection to suit all your valuation needs. Vision To champion the quality of motor vehicle valuations in Sri Lanka to world class standards in terms of accuracy, professionalism, consistency and service. Mission To be the most sought-after, reliable, up to date valuation Company in Sri Lanka for all its stake holders, ranging from Financial Institutions, Insurance Companies, Sellers and Buyers of vehicle etc. To continuously update and increase the level of accuracy and dependency of motor valuations where decisions can be taken in terms of selling, buying, financing and assessing of motor vehicles.

6 4 Services Comprehensive and Trusted Valuation Reports Our valuers are capable of issuing reports for all types of vehicles, earth moving equipment and vehicles, agricultural vehicles and machines such as forklifts etc. We provide the following services during our valuation process to ensure accuracy and quality. All valuation reports are issued on the Leasing Association of Sri Lanka (LASL) format with two clear photographs of the front and rear of the vehicle and each report is signed by a qualified valuer. Valuation personnel are able to provide on-site valuations. All valuers are equipped with state of the art technology in order to carry out speedy and accurate valuations. Blacklisted Vehicles Many clients and financial institutions are currently faced with the problem of forged vehicles due to various reasons. In order to safeguard the respective parties, LOLC maintains and updates a database of all forged vehicles with the chassis numbers. This list would be provided and shared with financial institutions and customers that deal with us on a regular basis. Auction and Yard Valuation In the case of repossessed vehicles, auctions and tenders, our valuation team possesses the resources and capacity to complete mass numbers of vehicle valuations. Irrespective of the auction or the number of vehicles, our team is able to provide the necessary services in a quick and efficient manner, within 24 hours. After Repair Inspections Valuation reports are important for vehicles after repairs for the following reasons; To determine the road-worthiness of the vehicle To determine if repairs have been carried out properly with the correct parts To determine if any material changes have occurred to the value of the vehicle etc. These services can be provided to financial institutions and Insurance companies who would require such services. All reports are issued after a thorough inspection of documents and the respective vehicle.

7 5 With a proud history that bolsters confidence in end user minds, LOLC has been foremost in providing financial solutions to Sri Lankans all over the island. It is this heritage that we take to all our consumers. Advisory Services for Quick Decision Making Our network of valuers will provide advisory services for quick and initial decision making in the form of opinions on the following areas; The value, based on vehicle categories Technical aspects Training Our valuers are able to provide training to officials of financial institutions and insurance companies in both central and regional locations which will be useful in accurate decision making in the financing of vehicles and equipment. This in turn would assist quick decision making as well as increase business volume. Second hand/used value of vehicle categories Future estimated value Trends Regulation aspects Duty structures etc.

8 6 A thorough inspection

9 7 Our highly qualified valuers conducting a yard valuation

10 8 Specimen Valuation Report

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12 10 group Structure Financial Services Leisure Agriculture and Plantation LOLC PLC Renewable Energy Construction Trading and Agencies Valuation Unit LOLC Motors Automobile Restoration and Service Center Speed Italia Authorized Distributors for Fiat Sri Lanka

13 11 Operational Structure Board of Directors Head of Valuation Unit Chief Valuer Customer Services Assistant Region 01 Region 02 Region 03 Region 04 Rajagiriya (Head Office) Kandy Kochchikade Galle Nugegoda (CLC) Kandy (CLC) Negambo (CLC) Matara Kiribathgoda Kurunegala Chilaw Kalutara Rathnapura Anuradhapura Gampaha Dambulla Polonnaruwa

14 12 Fee structure and Company information Fee Structure The valuation fees will be in line with standard fees charged by other valuers in Sri Lanka. Corporate Information Company Name LASL Registration number V/LASL/084 Registered Address No. 100/1, Sri Jayawardenapura Mawatha, Rajagiriya Telephone Gen : Fax : Note LOLC Motors are also the agents for FIAT in Sri Lanka. LOLC Motors also possesses a state of the art vehicle rejuvenation centre which can accommodate up to a 100 vehicles at a given time and also provide a fleet management service.

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