I believe that the Customs duty that is going to be levied on your vehicle will be same whether you use the personal baggage scheme or the gift scheme. It's been a while since I read anything about import duty structure in Pakistan but it should be around $23,100 or so for a brand new car of 1600-1800cc category. Since the car in question is a 2007 model (let's assume Jan 2007 manufacture), the maximum depreciation that you can avail is
52 months x 1% per month = 50% maximum allowed.
So you'll be paying around 50% of $23,100 which is $11,550 Add freight and maritime insurance, miscellaneous expenses of around $1,000. You are looking at something to the north of $12,550 USD in costs.
Please take a second opinion on the customs duty I quoted above as my knowledge is pretty rusty right now on the subject. Good luck!