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Thread: UBL Car Drive - Is is worth buying an Altis?

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    Default UBL Car Drive - Is is worth buying an Altis?

    Is it worth the money buying an Altis with all the attractions given by UBL.THis deal is valid for GLi and Altis only. Advice needed from Rolla drivers & in general condiering other cars in same price range.

    - Zero Payment Penalty
    - Flexible payments
    - Payment holidays
    - Toyota 2 yr waranty
    - Free Tracker with no monitoring charges
    - Free life insurance

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    @camel123 yoboy is right
    its financing yaar because you are not returning the car at the end of term. how this financing is acceptable by principle of Sharia? you are paying interest on that. can you justify this interest payment.

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    There is a fundamental conceptual difference between interest payment and rental/lease payment which I have tried to highlight. I am sorry if you and yoboy are not able to grasp it. You should consult a good book on Islamic business ethics and finance.

    Once the person has paid off the full price of the car the leasing company is free to "gift" the car to him or sell it for a token price. This particular point has never been a basis for controversy.

    Financing is not against Islam. Islam just places some conditions which need to be incorporated in the scheme. Products and services which comply with, incorporate and meet such conditions are considered to be compliant with Islamic principles. It is RIBA (usury) and GHARAR (uncertainty/ambiguity in transactions akin to gambling) which are two of the main important phenomenons prohibited according to principles of Islam. Both of these are avoided in the case of leasing.

    Again, i would like to restate:
    1. This is a very deep and serious topic which deserves to be studied. Authentic Islamic textual sources and reliable historical accounts need to be examined carefully.
    2. It is the consensus of a vast and diverse majority of Islamic thinkers that leasing is in principle not against Islamic principles.
    -

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    @ Naumans ask them how much do u have to pay as downpayment and how much insurace are they charging for car as far as i know they would be charging you installment + 200(as zero prepayment penalty fee) plus their insurance rates would be well above market so do check these things then do apply for leasing car through UBL

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    @autophile
    i finanaced my nissan sunny 2005 in May via UBL, yes they mentioned about free tacker but didnt provide it. The markup rate is 7% and after a year they issued a latter that it will be increased to 12%, what i did visisted the head office of UBL consumer finnacing at Schon, Clifton and reminded them that simply they cant change the markup as it is very very clearly mentioned in lease agreement that markup/service charges will not be changed during the tenure. They agreed and started to say that new staff didnt know about it and we are extremely sorry, you can also visit them.
    assuring the present,improving the future

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    Default looking for car finance

    any person from a bank finance please contact me.
    03219207690

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    i m looking for guys from bank finance please contact me
    farhan 03219207690

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