Sampath Bank PLC and David Pieris Automobiles (Private) Limited have signed a vehicle financing partnership that cuts lease interest rates for buyers of GWM and BAIC vehicles, the two companies announced on Tuesday.
Customers buying through David Pieris receive a 0.5 percentage point reduction on the bank’s published vehicle lease interest rates, subject to terms and conditions, EconomyNext reported.
The package also covers insurance. Buyers can take vehicle insurance premium loans with no interest charged if settled within two months, and Sampath Bank credit cards issued under the tie-up carry no joining fee and a 0% instalment facility for insurance payments for up to 12 months.
On the dealer side, David Pieris is offering free vehicle registration and one additional labour-free service, taking the total to three. The companies described the arrangement as reflecting “a shared commitment to meeting evolving mobility needs through accessible financing and automotive solutions.”
The agreement was signed for the dealer by Prasanna Yogarathne, Deputy General Manager – Sales and Operations, and for the bank by Asanka Liyanage, Deputy General Manager – Consumer and SME Banking.
What is covered
David Pieris Automobiles is the four-wheeler sales arm of the David Pieris Group and the authorised distributor for GWM — covering the HAVAL, TANK and ORA marques — alongside the BAIC range of X55, BJ30 and X3e models. The dealer opened its eighth BAIC showroom in Kandy in September.
A pattern this desk has been counting
The announcement extends a run of dealer–lender tie-ups in the Sri Lankan motor trade. In September this desk recorded Union Bank’s leasing agreement with Toyota Lanka as the third such deal in six weeks. David Pieris Automobiles itself announced a comparable leasing partnership with Commercial Bank for the same GWM and BAIC ranges on 3 March this year, so Sampath is not the sole financing route for these vehicles.
Not reported
Neither filing gives the value or duration of the agreement, the base lease rate from which the 0.5 point is deducted, or whether the terms apply to the full model range or to selected vehicles. Neither says whether the earlier Commercial Bank arrangement continues alongside it.
