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Thread: Car insurance Issues

  1. #1
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    Asadrehman's Avatar
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    Default Car insurance Issues

    Hi dear All..!!

    I need help regarding car insurance.I am going to buy new Gli through Bank Alfalah for 3 years lease at 5% of the invoice price including tracker which is around 85k annually (my company ll pay interest and i ll pay only the principal amount )

    According to Bank Alfalah i have to pay 1 year insurance amount as advance and i ll also pay monthly insurance 1st and 2nd year(offcourse i ll nt pay insurance amount in 3rd year).I dont want to give 1 years insurance amount as advance beside of this i want to give monthy insurance for all three years.

    Kindly please suggest/guide me the best way how can i pay the insurance amount on monthly basis????Also kindly let me know whether this 5% insurance amount is ok ??????


  2. #2
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    Default

    AlFalah Islamic banking will not charge advance insurance.
    Insurance rate for Gli/Xli always high due to high risk of theft. But 5% is really high. Negotiate with bank.

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    ?Everyone should be respected as an individual, but no one idolized.?

  3. #3
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    Default

    Negotiate how ???????

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    Default

    5% is too high dear. it shouln't be more than 3%.

  5. #5
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    Default

    I dont think that bank alfalah has the best deal in town..contact some other banks if u have not finalized the deal with bank alfalah
    ReAliZe, ReAl liEz, ReaL eyEz..

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    Default

    But i heard Alfalah is offering at 12.71% p.a. Isn't it lowest in market?


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    Default

    Most of the banks dealing with 3% but without tracker...with tracker its 5%..still nt gudd ???
    Slixasplit....which bank is good for this????
    @asifshar...i dont have concern with interest rate coz it ll paid by my company.

    Need guidance regarding insurance rate ......plzzz guid..!!!

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