Auto Leasing is one the most mature business in developed and as well in developing countries. Leasing an automobile is an alternative to purchasing that usually enables consumers to pay lower up-front costs and make affordable monthly payments. At the end of the lease period, however, the consumer does not own the vehicle. Instead, consumers opting for automobile leasing arrangements pay for the use and depreciation of the vehicle over the duration of the lease. Purchasing a vehicle for cash is usually the most cost-effective option, followed by financing a purchase and, finally, leasing.
The company has their products which provides solutions for Auto Leasing Industry. It has a complete financial suite for Leasing in which there are different modules. Point of Sale, Contract Management System, Wholesale Financing, and Contract Activation Procedure, these four make a complete financial suite.
The problems being caused were: