Buying a Honda Civic on Lease

[capsat]

ORIX is a pro leasing company - Been doing business thru 3rd party vendors with them since past century ( late 1990s ).

Bank leasing is totally different and low life gutka pan chewing politically linked low life are handling leasing department at Banks,

Only on wednesday sorted & grilled one al-falah bank branch manager at noon he came back with home service at 9.30 pm with all papers in order properly in a folder filed with total payment statement received, a clearance letter & noc with transfer letter signed & stamped in favor of leasee for MVR Excise office to transfer the car paid off in March 2013.

Please make sure you keep track of your payments and every quarter check & obtain an statement. ORIX is Good.

[chdemon]

for 5 years you want to pay 45000 every month..... i did not choose 10k for 3 years. Bro this is huge amount. if you are stable, i mean good source of income then no issue, but if you are not so much stable then please dont go for this trap.

once i suggested this to you and now i myself in trouble of leasing the car :(. means its easy to give suggestions than acting upon it. sorry for this advice i am falling to this one as well.

[farrukh43]

bro, as per my experience..we had two cars, one on bank lease and other was bought on cash. astonishingly the car which was on lease always got accidented on appox regular monthly intervals, but on the other hand the car which was bought on cash was never accidented.
i myself took some personal loan once to buy car but its really a mess to get involved urself in paying interest n all. additionally i haven't found any difference in islamic n usual lease plan, both r just a matter of words n infact so called islamic leasing is more costly.
m just gonna buy a new civic. it'll cost me around 2.2 million but still m buying it on cash just because interest is the biggest "laanat" of all. hope u'll understand

[faiz.aslam.121]

Omg so true^ I've got a leased car and it crashes too often. Planning a civic on cash in the next 18 months or so:)

[awais.9]

Omg so true^ I've got a leased car and it crashes too often. Planning a civic on cash in the next 18 months or so:)

araam se chalani chaihey na

[faiz.aslam.121]

araam se chalani chaihey na

Lol I can control myself but not idiots on the road

[awais.9]

Lol I can control myself but not idiots on the road

control them wid loud horn otherwise wid chitar

[Lakhwaira]

I've been contemplating a car loan but haven't come around to it yet. How do people decide that a car loan is something they should go for? Well, here's the reasons that entice me towards financing a car:-

1. The lack of money to buy a brand new car.
2. Driving a new car is just incomparable to a used one.
3. My inexperience at identifying a used vehicle that's worth the money.
4. The amount of time taken to hunt and settle for a good used vehicle.
5. The various little problems that WILL pop out of used vehicles (workshop visits are tiring)
6. Peace of mind when driving a new vehicle, knowing it won't bail out on you.

I know many people claim there is interest involved and whatnot, but when I look at the stress involved with a used vehicle, I would gladly pay more (in the long run) to get a new car and be at ease for a year or two or three, as far as having and driving a car goes. So to me, a car loan is something that facilitates me to eventually own a vehicle while not having the capital to purchase one immediately.

Having that said, I still have not looked into the terms of a car loan to know the pros and cons, but from what I see, the pros come from the person taking on the loan.

If I do eventually look into the loans available from different financial institutions, I'll share the information here with you all.

[mwm749]

I've been contemplating a car loan but haven't come around to it yet. How do people decide that a car loan is something they should go for? Well, here's the reasons that entice me towards financing a car:-

1. The lack of money to buy a brand new car.
2. Driving a new car is just incomparable to a used one.
3. My inexperience at identifying a used vehicle that's worth the money.
4. The amount of time taken to hunt and settle for a good used vehicle.
5. The various little problems that WILL pop out of used vehicles (workshop visits are tiring)
6. Peace of mind when driving a new vehicle, knowing it won't bail out on you.

I know many people claim there is interest involved and whatnot, but when I look at the stress involved with a used vehicle, I would gladly pay more (in the long run) to get a new car and be at ease for a year or two or three, as far as having and driving a car goes. So to me, a car loan is something that facilitates me to eventually own a vehicle while not having the capital to purchase one immediately.

Having that said, I still have not looked into the terms of a car loan to know the pros and cons, but from what I see, the pros come from the person taking on the loan.

If I do eventually look into the loans available from different financial institutions, I'll share the information here with you all.

End of the day it all depends if you can afford and pay the EMI, as that's a lot of stress to dish out lot of money every month.

[city11]

If u really interested to get on lease then go for modarba its Islamic and principal remains fixed weather intrest raise or not

Sent from my SM-N900 using Tapatalk

[Lakhwaira]

End of the day it all depends if you can afford and pay the EMI, as that's a lot of stress to dish out lot of money every month.

Yep, that matters as well. It varies from each individual as we all have different priorities.

I'm not getting great gas mileage on the cars I currently own so it feels like a lose lose situation.

[capsat]

@Lakhwaira please write down and remember few points in order to select a new vehicle from leasing. I'd highly recommend ORIX over Bank.

Banks revise financing policies every quarter in addition to revision of interest rate ( revised by the state bank of Pakistan ) while orix (a professional leasing consorrtium) does not follow such con technics. They may be expensive in clear view but their fine print is also balanced.

Keep following in consideration when making choice of car
1. size of family, 2. your daily mandatory run, 3. ease of parts availability in open market, 4. choice of fuel - CNG ?? any day it may cease to exist for transport sector in 2014.

1. how much FIXED amount you can comfortably spare away from your financial input every month without compromising on lifestyle.
2. last but not least how soon you plan to change the vehicle after leasing.

remember all banks charge extra premium if you choose to pay-off before the end of lease period while ORIX does not. Instead they offer you better leasing terms for future and your credit rating goes one notch up.

in the end the fuel economy depend on size of car and directly proportional to the driving habits. - my home minister drives a 2.7L and churn-out 11 km from each litre of petrol in city driving where as when i used it for a week i failed to get over 9 km /L.

my daily commuter is a 22 year old cng corolla which gives around 90+ km per 7.6 kgs of cng.

[jagsten30]

its very costly bro don't go for it....

[zabymao]

If you can pay the remaining amount ASAP, like within 6-10 months, then lease is kinda ok, since you are sure you can buy it, but saving for months is boring.

Example: Say i earn 3 lac per month, and i want a car that cost 18 lac, saving for 6 months is kinda out of the question, so why not just lease it, and pay back it within a year? many private companies including ORIX let's you pay the remaining payment without adding any % of tax/interest on full-payment.

That's why i am doing a lease with ORIX; within 7-8 months, the car will be fully paid for and on my parents name.
Avoid interest- try to find a bank that does Islamic Banking, i don't even understand how Islamic Banking works but yeah.

Good luck, and take your time, read the terms and conditions properly, The hard time is signing the cheques lol.

called orix today and the figures provided by them did not seem right!! i wanted to inquire about how orix works and for example qouted a 1.6 auto Down payment of 1.2 mil and the remaining from orix, which was roughly 700 thousand. They would charge 4.75 percent which means the car would cost me 2.5 mil.The dude i was talking to made things very confusing or i might be slow enough to not get what he was trying to say, however he did say the car would cost you 2.5 mil in 3 years. Now my question is, isn't bank financing almost the same?