ICON Sourcing - Honest Dealings

Now Buy Laptops on installments: 

Leasing / Installments facility is also available @ Icon Sourcing. Maximum limit is Rs. 70,000/- but it can be revised on case to case basis. At the moment leasing is available for Karachi residents only.

Requirements:

• Application form, to be collected from ICON.
• Copy of CNIC & one recent passport size photograph.
• Copy of CNIC & visiting card of personal guarantor.
• Copy of residence utility bill.
• Post dated cheques, required only on approval of Leasing.
• Guarantor will be required to sign an affidavit for complete responsibility.

Who can be a guarantor (Most Important): (Conditions Revised)

• Must be a permanent employee of a Bank or Known Multi-National company.
• Or any person who has strong financial background - running own business - working in a reputable organization as a permanent employee.
  
  
• Approval or Rejection of a guarantor is done by the leasing company and ICON has no part in the process.

Procedure:
Once you select the laptop you need, you submit the first 4 required documents along with the down payment in cash. Your case is then sent for the approval. 

Approval Process require 2 to 3 working days, which involves verifications and affidavit signatures by the guarantor. If the case is approved, you submit the required 3/6/12 posted dated cheques depending on the tenure of the leasing and the Laptop is delivered to you.

In case, if the application is rejected, Rs. 800/- will be deducted as the processing fees and balance of down payment will be returned back to applicant. 

Example of Calculation: (Reduced)
To give you an idea of the calculations for leasing / installments, please consider following example:

If Leasing Amount is: Rs. 50,000/-

Down-payment will be : Rs. 13,300/-

12 Monthly Installments: Rs. 3,750/-
06 Monthly Installments: Rs. 7,250/-
03 Monthly Installments: Rs. 14,000/-

So, if you choose 12 month tenure, total amount you pay would be 58,300/-. For 6 months total would be 56,800 and only 55,300 for 3 months tenure.

 
Imortant Note:
Prices mentioned on our websites as discounted deals are for cash purchases only, leasing price may be different from the web-mentioned prices.

How much extra do you pay:
Taking the above example, for a typical 12 months leasing you pay approx. 8000/- extra for 12 months i.e. approx only 600/- a month, which is very nominal, we guess. 

Advantages: (No Early Payment Penalties)
If you want to pay off anytime, you just pay the balance amount without any interest on the balance and close the deal.