hi,which is the best bank for car financing? plus simple and easy procedure as well.What if i have no account in bank but i can make downpayment of 80,000
regards,naveed
there is nothing simple and easy when you barrow money from the bank..................so get ready for paper work and the red tape that go along with that
janab ap kon see gari lena chahtay hoo?usi hesab say pata chlay ga k 80000 kis gari ki down payment per suit kertay han..?i think alto mehran sentro 10% down payment..i like bank alfalh its mark up rate 13% i think 4 suzuki cars.
Hey,
I read at UBL's website that you can avoid all the income stuff by just paying an additional 5% down, not sure though.
hi,,,,,,the interest rates have become very high these days
even alfalah,,,,which is the best bank for financing is offering 15% mark up for suzuki
and 16 % for other brands
while 17% for used cars
and REMEMBER UBL IS A CHOR
@ hamdani_08 , r u sure??? this is too much interest rate??? any body can through further light on this issue? rate fore imported cars plz..thanx
yeah i am sure
i can give u the link
http://www.bankalfalah.com/car/car_markup.asp
Visit Al-Baraka Islamic Bank, I think they are still doing @ 13% and you have a clear conscience that you are not dealing with interest.
@exanaxe...Sorry to burst your bubble mate but Islamic Financing is just the same. Its just a different name. I have relatives in this sector and I have had a long talk on this with them.
Yes! Islamic banking is more expensive than the rest. Banks in general are out of control. They have no clearcut policy about anything. Sometimes they team up with car manufactirers and some times they go with the importers/investors. They don't even follow the dictates of the govt on credit and cars. If you are being offered any benefits like cheap insurance etc be warned that it could be that you are not insured. If you try to find out you will soon realize that all banks have two levels. The official level and the employee level. AND THEN THEY ARE ALL RUDE & IGNORANT.
One should avoid bank leasing as i have not seen a person happy after getting a car on lease.
salam bhi jan ap 80000 ki gari lay lo kafi khush raho gay varna kistean he + kavatay raho gay mahinay ka to pata bhi nahi chalta or agli kisst ka time a jata ha hehehe imran bhi theek khah rahay han
Salamz Naveed!
First of all I would like to say that befair and have fair. If u play a fair game trust me INSHALLAH u wont be bothered in the game. I am a banker myself and serving FAYSAL BANK. we have 13-14% rates for local cars and about 16-18% on imported vehicles. you can check the ad of FAYSAL BANK in vehicle section, in CLASSIFIED short megazine of THE NEWS of sunday. Bank charge you more that must be quite obvious to you as it is a long run committment so think thoroughly before getting decisive about the deal. our acting operation manager has 1000ALTO VX (non AC) and he is paying 9000 app. and your monthly rental decreases with the passage of time because of insurance. but patience is the main apparatus to have this experiment done as u know you will get the financing for 3 or 5 years. I personally cant be that patient thats why did not have leased car rather bought one on cash. so my brother this is the whole scenario . best of luck
Dear: i my self selected UBL car finanacing last year. i have done some research on it and found UBL having less markup rate, still it is the lowest and 3.5% EFU premium. But do some calculations before getting any finace scheme.
The leased cars are everywhere for sale in Lahore these days, which shows that it is not a good option in the end.And few new cases are coming to banks after seeing the EXPERIENCE of others.
@tiptop
salamoona brother! that is what i wanted and want to say that people b4 getting the car financed think that we will be possessing the car and they do not shed light on the other aspect that they will have to pay the rental for the coming couple of years i.e 3-5 . the first category of returners is this and the second one includes the black players who think they can play fraudulent game wiht the bank but nowdays banks have very strong Collection & Recoveries dptt:) thats why when I come across to any potential car lessee , shows him this side of picture which most of the customers dont glance at! i.e PATIENCE . thankyou
Dear friends i m providing u a rough idea of suzuki mehran cng car price is 345,000 (white) insurance rate is vary from 3.75 % to 4.25 % and the companies r EFU,Adamjee,New hampshire etc. the markup rate vary 12.5% to 15 % depands on downpayment and must b a business or an employee, bank statement is not necessary but markup rate abt 1 % to 1.5 % more as compare to standard product (with bank statement) there are 4 things included in downpayment1-10 % downpayment2-1st year insurance 3-1st installment4- document chargesthe isntallment is round abt 8,000prox the total is 65,000 without ON moneythe booking of mehran vx cng is 6 months for further details any body can contact me i can arrange all informations my friend is dealing with different banks.thanx and regards.
Hi All,
After reading the opinions of different guys i come to know that Car financing is a "bull shit and money wasting" a "black mailing as well".
So i will better save my money per month and after 5 to 6 month i will buy a car on cash payment.
Thnx to all of u.
BYE
car financing will get expensive with passage of time since the Governer SBP has herself declared that banks should be ready for more rate hikes in the near future ..... so watch out ...
also, i was exploring car financing options myself and found out a sort of convenient way (provided u have some good deposit as guarantee) met the Branch manager at an askari bank branch here in islamabad and he told me that u can take loan (ordinary loan ... not car financing) at half the rate if u have Foreign currency or fixed deposit with askari as a collateral for that loan (upto 80% has to be there as collateral) ... its a nice way of avoiding car financing expensive loan and the crappy paperwork ...
provided only ..... if u or ur family folks can put down the collateral ... so i guess its good for folks whose parents etc have a deposit in askari .....
bilkul ho sakta hai UBL ka rate kam ho but do u know onething that when u get car finance from UBL u keep on paying and paying kabhi yeh nahin pata lagega keh kab khatam hogi apki puri installment. aur yeh UBL ke hi bank wale ne bataya hai. but incase of Al falah apko yeh pata hota hai keh apne itne months tak pay karna hai aur itna pay karna hai. thats why UBL gives less mark up. but in real they take double from u. got it. but i m not saying that u choose Al falah its upto u. but i am telling the truth.