@sahhil_22
i gave 25% down. but thats up to u. u shud try to give as much down as possible to make ur amount financed as little as possible. and another thing that helps is if u give ur first installment in advance. that'll also reduce the rest of ur installments.
Mcb was the cheapest but they wudn't finance my car cuz they said i had a negetive profession (transport) =|
here the deal i got from bank alflah
25% down ------------------------------ 338500
Advance First month installment------ 54635
First Year Insurance Premium--------- 65315
Tracker Advance------------------------ 4640
Registration Charges------------------ 52000
TOTAL DOWN PAYMENT--------------- 515090
First year, 11 installments at ---------- 54635
Second year, 12 installment at -------- 49728
I'll tell u the simple formula i use to effectively compare the quotations from different banks.
(in my case)
add the down payment leaving out things
like regestration, becuz only some banks ask 338,500
for that up front. 54,635
65,315
4,640
Total down 463,090
add to that ur the total of ur monthly installments
54635x11= 600,985
49728x12= 596,736
So in Total this bank is costing you----------------- 1660811
Subtract the financed amount ------------------- 1015000
Interest (including insurence etc)---------------------- 645,811
divide it by the number of years (2)
Extra charges per year ------------------------ 322,905
So m sure by lookin at this u've realized if u have the money, try not to finance! =P
but if u have ne more questions al be glad to help. 321 665 6637