Survey by Qualaroo
+ Reply to Thread
Page 1 of 2 12 LastLast
Results 1 to 20 of 26
Like Tree37Likes

Thread: Financing Information for XLI 2015

  1. #1
    PakWheeler Follow
    tahasoomro's Avatar
    Join Date
    Nov 2009
    Location
    Karachi
    Age
    28
    Posts
    882
    Follows
    1
    Following
    0
    Mentioned
    11 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default Financing Information for XLI 2015

    Hello Dear I'm ready to pay 60% advance payment for XLI 2015. The UBL is asking minimum Rs50,000 Salary P.M but I am earning 35,000 Please suggest experts


    Sent from my iPhone using PW Forums

  2. #2
    PakWheeler Follow
    tahasoomro's Avatar
    Join Date
    Nov 2009
    Location
    Karachi
    Age
    28
    Posts
    882
    Follows
    1
    Following
    0
    Mentioned
    11 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    Reposted help experts


    Sent from my iPhone using PW Forums

  3. #3
    Senior PakWheeler Follow
    VCheng's Avatar
    Join Date
    May 2010
    Location
    Select City
    Posts
    25,479
    Follows
    7
    Following
    1
    Mentioned
    434 Post(s)
    Tagged
    4 Thread(s)
    Problems Posted
    0
    Problems Solved
    1
    Best Answers
    0
    Good Answers
    0

    Default

    Ask them what increase in the down payment will reduce the salary requirement to 35,000.

  4. #4
    PakWheeler Follow
    khurramzafar's Avatar
    Join Date
    Jul 2011
    Location
    Lahore
    Posts
    98
    Follows
    0
    Following
    0
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    i think UBL will not change his policy for an individual customer u can contact some other good option

  5. #5
    PakWheeler Follow
    tahasoomro's Avatar
    Join Date
    Nov 2009
    Location
    Karachi
    Age
    28
    Posts
    882
    Follows
    1
    Following
    0
    Mentioned
    11 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    Quote Originally Posted by khurramzafar View Post
    i think UBL will not change his policy for an individual customer u can contact some other good option
    Ok lets see dear any body know the interest rate ?


    Sent from my iPhone using PW Forums

  6. #6
    MGK
    MGK is offline
    Senior PakWheeler Follow
    MGK's Avatar
    Join Date
    Mar 2008
    Location
    Islamabad
    Age
    26
    Posts
    3,032
    Follows
    2
    Following
    0
    Mentioned
    81 Post(s)
    Tagged
    5 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    You can show additional income from some part time business of your own or somebody in your family. But I am not sure.

  7. #7
    Senior PakWheeler Follow
    fazalwahab11375's Avatar
    Join Date
    Jan 2012
    Location
    Select City
    Posts
    29,468
    Follows
    36
    Following
    2
    Mentioned
    842 Post(s)
    Tagged
    23 Thread(s)
    Problems Posted
    0
    Problems Solved
    2
    Best Answers
    1
    Good Answers
    2

    Default

    In the second link there is a calculator. Fill in with diffrent options and get a rough idea.

    The Official Website of Askari Bank Limited Pakistan
    Meezan Bank Ltd. | Car Ijarah

    Financing Information for XLI 2015 - e08b48773d331fce62ae0fdf0837dc70
    Pakwheels on the MAP; http://bit.ly/ZVyXcZ

  8. 19-01-2015, 06:55 AM

    Senior PakWheeler

    Reason
    not needed

  9. 19-01-2015, 11:23 PM

    Senior PakWheeler

    Reason
    not needed

  10. 20-01-2015, 03:19 AM

    PakWheeler

    Reason
    not needed

  11. #8
    PakWheeler Follow
    kalia's Avatar
    Join Date
    Jun 2008
    Location
    Islamabad
    Age
    32
    Posts
    497
    Follows
    0
    Following
    0
    Mentioned
    23 Post(s)
    Tagged
    1 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    @tahasoomro You don't just have to pay the 60% of the MSRP of car upfront when you finance it. You have to pay the first year's insurance, processing fee, freight, registration etc and this adds up to a hefty sum too and if you are paying close to 75% (ballpark figure, not calculated) in advance, I would rather suggest you wait.

    1- Maybe try managing another form of loan within your family or close circle where you don't have to pay interest.

    2- If at all, someone who is wanting out of a financed deal from an Islamic bank is another good option for you. There will be people selling their financed corollas in maybe 6 months time and they sell it at a loss in almost all cases. Someone's loss can be your gain.
    Do in pindi as the pindi boyzes do !!

  12. #9
    PakWheeler Follow
    tahasoomro's Avatar
    Join Date
    Nov 2009
    Location
    Karachi
    Age
    28
    Posts
    882
    Follows
    1
    Following
    0
    Mentioned
    11 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    Quote Originally Posted by kalia View Post
    @tahasoomro You don't just have to pay the 60% of the MSRP of car upfront when you finance it. You have to pay the first year's insurance, processing fee, freight, registration etc and this adds up to a hefty sum too and if you are paying close to 75% (ball park figure, not calculated) in advance, I would rather suggest you wait.

    1- Maybe try managing another form of loan within your family or close circle where you don't have to pay interest.

    2- If at all, someone who is wanting out of a financed deal from an Islamic bank is another good option for you. There will be people selling their financed corollas in maybe 6 months time and they sell it at a loss in almost all cases. Someone's loss can be your gain.
    You mean that I wait but suggest me best bank ?


    Sent from my iPhone using PW Forums

  13. #10
    PakWheeler Follow
    kalia's Avatar
    Join Date
    Jun 2008
    Location
    Islamabad
    Age
    32
    Posts
    497
    Follows
    0
    Following
    0
    Mentioned
    23 Post(s)
    Tagged
    1 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    Quote Originally Posted by tahasoomro View Post
    You mean that I wait but suggest me best bank ?


    Sent from my iPhone using PW Forums
    I have been in the same situation, desperate for a car with a decent upfront payment but not enough fixed salary and thought about leasing. I couldn't go with that option for various reasons. Its been years and I am adequately content. I bought a second hand small car which has admittedly, been a trouble but this is the case because I was very naive about the purchase and made newbie mistakes. However, I have no liabilities or fixed installments to pay and I have savings that can help me buy a new car any time I want. You can be a little more careful.
    Interest rate or Ijarah (correct me if i'm wrong with terminology) %age for Islamic banks is very high and you end up paying a lot more than you think. The reps of banks sit you on a chair, offer a drink or tea while they start calculating numbers. Pretty soon the number ends up a million over the car's price and its not a burden you should put on your limited salary. No matter what you think, even a brand new car adds a lot to expenses. Rs 5000-10000 is the per month figure that you should be looking at in fuel and misc expenses and subtract it from your salary to know what you can afford actually. Patience is a great virtue and I wish you all the luck in finding it!
    Do in pindi as the pindi boyzes do !!

  14. #11
    Senior PakWheeler Follow
    DrUsmanNawaz's Avatar
    Join Date
    Jul 2011
    Location
    Wah cantt
    Age
    34
    Posts
    3,930
    Follows
    19
    Following
    0
    Mentioned
    165 Post(s)
    Tagged
    2 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    1

    Default

    Dear dont do for bank finance, ap family me kisi se loan le lo, 2nd and better option is " kameti" daal lo .... 30000/month... 2 years me 720000... 1st kameti le k payment kr do, or phir 30000 her month dete raho... 2 years me payment b khatm ho jaye gi inshAllah wid no interest...
    Regards...

  15. #12
    PakWheeler Follow
    saoud.arshad's Avatar
    Join Date
    Aug 2013
    Location
    Gujranwala
    Age
    26
    Posts
    242
    Follows
    0
    Following
    0
    Mentioned
    17 Post(s)
    Tagged
    1 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    buy a car within your budget.if u cant then don't buy a car because it's only gona make you perishable life hard and beyond this there is a un perishable life which you should not make full of hurdles and problems
    Don't go for haram (banks)
    ?... Beware! Verily the party of Allah are the successful ones.? Sura Al-Mujadala, No. 58, verse 22

  16. #13
    Senior PakWheeler Follow
    MrUnknown's Avatar
    Join Date
    May 2012
    Location
    Islamabad
    Posts
    1,396
    Follows
    2
    Following
    0
    Mentioned
    31 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    Dont do it man u ill save ur self from alot of headache ..buy a car with in ur budget or wait for some time nd save to buy ur desired car


    Sent from my iPhone using PW Forums
    What's Behind You, Doesn't Matter - Enzo Ferrari

  17. #14
    PakWheeler Follow
    aa78's Avatar
    Join Date
    Dec 2011
    Posts
    697
    Follows
    0
    Following
    0
    Mentioned
    10 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    Quote Originally Posted by tahasoomro View Post
    Hello Dear I'm ready to pay 60% advance payment for XLI 2015. The UBL is asking minimum Rs50,000 Salary P.M but I am earning 35,000 Please suggest experts


    Sent from my iPhone using PW Forums
    Live within your means. Get a used car; local or JDM as per your means and preferences.

    Don't over-extend yourself financially or create liabilities for your family if God-forbid something bad happens to you.

  18. #15
    PakWheeler Follow
    anwarshahbazch's Avatar
    Join Date
    Jan 2013
    Location
    Sahiwal
    Posts
    132
    Follows
    0
    Following
    0
    Mentioned
    5 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    You can only lease a car if monthly installment of loan is 33% of you salary. In your case it amounts Rs:11550/-. If you can pay almost 40% security deposit you can lease a Suzuki Mehran. I think it is better than to buy a old big car. My personal advice is to use the public transport and save your money for future. Good day.

  19. #16
    Senior PakWheeler Follow
    zuhaibafzal's Avatar
    Join Date
    May 2013
    Location
    Lahore
    Posts
    5,657
    Follows
    4
    Following
    0
    Mentioned
    77 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    2
    Problems Solved
    1
    Best Answers
    0
    Good Answers
    4

    Default

    Try Bank Alflah and Askari Islamic Banking.


    Sent from my iPhone 6 Plus using Tapatalk
    Eat Well ~ Travel Often

  20. #17
    Senior PakWheeler Follow
    2468's Avatar
    Join Date
    Apr 2008
    Location
    Karachi
    Age
    36
    Posts
    3,508
    Follows
    1
    Following
    0
    Mentioned
    7 Post(s)
    Tagged
    3 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    Quote Originally Posted by anwarshahbazch View Post
    You can only lease a car if monthly installment of loan is 33% of you salary. In your case it amounts Rs:11550/-. If you can pay almost 40% security deposit you can lease a Suzuki Mehran. I think it is better than to buy a old big car. My personal advice is to use the public transport and save your money for future. Good day.

    He is planning for 2015 Xli and you are advising him public transport

  21. #18
    PakWheeler Follow
    anwarshahbazch's Avatar
    Join Date
    Jan 2013
    Location
    Sahiwal
    Posts
    132
    Follows
    0
    Following
    0
    Mentioned
    5 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    35000 Salary + Living in Karachi + Brand new XLi = Can be trouble
    My best regards.

  22. #19
    PakWheeler Follow
    The_lasting_impression's Avatar
    Join Date
    Jul 2009
    Location
    Rawalpindi
    Age
    43
    Posts
    197
    Follows
    0
    Following
    0
    Mentioned
    0 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    6
    Problems Solved
    0
    Best Answers
    1
    Good Answers
    0

    Default

    Quote Originally Posted by tahasoomro View Post
    Hello Dear I'm ready to pay 60% advance payment for XLI 2015. The UBL is asking minimum Rs50,000 Salary P.M but I am earning 35,000 Please suggest experts


    Sent from my iPhone using PW Forums
    I wonder how could you manage a monthly installment of Rs.30,000 if your salary is 35,000? If you can 60% down payment which equals one million or so, Why not buy a second hand clean vehicle? Keep in mind you will have to spend around 100,000 for registration number, carriage and other initial expenses etc. So why not buy a decent used vehicle in one million rupees?

  23. #20
    PakWheeler Follow
    StoneCold316's Avatar
    Join Date
    Apr 2011
    Location
    Karachi
    Posts
    224
    Follows
    0
    Following
    0
    Mentioned
    3 Post(s)
    Tagged
    0 Thread(s)
    Problems Posted
    0
    Problems Solved
    0
    Best Answers
    0
    Good Answers
    0

    Default

    OH God... dame.. dude i would not recommend you this option why would buy a car finance by banks.. one of my friend went through horrible experience even i .

    bahi jan.. 40% overall car ap ko mehngi parti hey 35k thousand ap ke salary and you want to fiance your car ..ager kabhi koi prob hoi payment nai kar sake..bank Jeena haram kar de ga..
    dude its pakistan..


    and staright forward baat... why you need brand new XLI?? with such a low income ???



    mine is allhumdullilah above 100K and i have only choti moti chevy car..never ever tried to loan although i have couple of credit cards but never tried the loan i . Sood.. interest main barkat nai..

    my friend..bought 2010 Civic some years ago and start main 2 year tak payment set rahi..but due to some conditions he lost his job phir bank waloo ne jeena haram kar dia..tha..ended up payed 10 lac and still car wapis karne par gae..

    My honest suggestion "sood staright allah se jang hey " sood main barkat nai.. kabhi trouble agae..literally bank wale jeena haram kar de.gey...i had worked for Bank Al habib.. Collection department i saw people did suicide literally collection department.wale they said..maroo ya Geo bank ko paisoo doo! I am not lying..kabi Collection department main kisi kam se jaoo listen there calls.you would astonish how cruel they are.. thats why BANK ke JOB haram hey unless koi sakth majboori na hoo!

    rest your choice..
    god Bless you!

+ Reply to Thread
Page 1 of 2 12 LastLast

User Tag List

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •