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Financing Asset Acquisition
By Stanley Opara
Acquiring assets in this part of the world has remained an issue over the years. In the past, the assumption was that people had to save up to the actual cost of an asset before thinking of owning such an asset.
However, the prevailing trend in developed economies is that people do not have to wait until they are able to generate the total cost of assets they want to purchase.
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It is either a bank picks up the responsibility to finance the transaction or a finance/lease company does so.
Unfortunately, some Nigerians still believe that they have to wholly finance every deal that will make them owners of one property or the other.
The Finance/ Administrative Director of Chasemol & Associates – an IT and Leasing firm in Lagos, Mr. Basil Ataname, says Nigerians have been reluctant to subscribe to the concept of leasing due to ignorance and rigidity of the mind, among other factors.
He maintains that a large number of Nigerians are yet to embrace leasing.
He stresses the need to qualify the activities of players in this line of business in terms of the roles they could play in assisting people get items of their dream effortlessly.
Any one wishing to acquire an asset via financing has just a little challenge compared to the challenge that characterises the accumulation of the entire fund for the same purpose.
Experts say that the challenge is in making the right choice as to what is to be acquired. Once the idea is initiated, it can be actualised since the financer has what it takes to materialise the conception in terms of the wherewithal.
Ataname adds that deals of this nature put into consideration the welfare of the client while the financer remains exposed to the major risk imminent. Citing instances from his company’s experiences, he says, “Many people who ordinarily cannot afford to buy a laptop, can get aid from the company in that regard. What is required of them is to pay the initial instalment of less than 50 per cent and spread the balance to between six months and one year, depending on what the client cherishes.
According to him, after the first instalment, the client is allowed to go home with his laptop.
Continued in Page 2
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