Buying A Car – Avoid These 3 Auto Financing Mistakes


Advancements in technology and finance have made life greatly convenient for all of us and given us multiple options to avail the finer things in life.

One of these advancements is car financing which has brought the purchase of vehicles closer for ordinary Pakistani’s by allowing them to avail loans from leading banks of Pakistan.

Auto loans or car financing is a growing trend these days that has also made lives easier for the prospective car buyers. But, when it comes to auto loans, make sure to play smart. There can be many in’s and out’s, and aspects of signing up for an auto financing deal.

Here are few mistakes to avoid while going to auto financing:

The first mistake people tend to make is…

Not focusing on the actual price:

In excitement, it often happens that we get off-track and don’t focus on important things. If you focus on the monthly payments and not on the actual price, it’s very likely that you will end up paying more.

Which brings us to mistake no. 2,

Going for a long-term loan:

It may sound very convenient to pay low amount for a long-term loan, but what nobody tells you is that the amount difference within longer time period can add up to a lot of money, which you won’t even realize. It is best to go for a short-term loan plan.

And then this…

Not exploring other options:

While there are many loan options available with different loan rates, don’t jump on to one option all at once, before exploring different other options. Before applying for loan, make sure you have done your research.

And while there are many means to get auto loans, JS bank’s car financing gives an experience, which is smooth and hassle free with low down payment and flexible tenure.

So, avoid above mentioned mistakes and look for a best auto financing deal to own your dream car.


Notable Replies

  1. aa78 says:

    How much did JS Bank pay you for this referral/advertisment?

    Biggest mistake will be to trust any such financing advice from PW Blogs since PW has its own vested interest, rather than the impartial consumer's interest.

  2. Rugal says:

    Bhai, it's a sponsored article. It says so at the top.

  3. Kibor + 7% and kibor+10% JS bank thats garbage. Very high interest.

    I have a loan for kibor+2.0% fixed for 3 years. So yes do ur research and dont go for such high interest rates.

  4. aa78 says:

    IIRC, it wasn't there earlier.

    From where?

  5. What about Meezan bank car Ijarah? I have a plan to get car finance from Islamic point of view. My choice is a 2014 JDM with 25% down and 7 years plan.

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