Financing without Mark up

[pwuser151430129546]

Actually i want to buy 2 Variants of Toyota... 1 Gli and 1 Altis 1.6... I want these both cars on Installments... But i am not going with a single penny Mark up... I am ready to pay Downpayment and 1 lac for each of the car per month.... If there is any option, Kindly let me know....

[fastian04]

Bhai kis duniya main hain? may be jupitor per aisa ho jae..even islamic system they consider price way higher and call it islamic

[def3nder]

If you are bank employee you can get your car lease from your bank otherwise markup is waiting for you.

[gilgiti]

If you are not willing to pay markup you will have to buy expensive cars. It will be same in the end.

[aliaamir0335]

impossible

[fastian04]

Even bank charges some markup for its employees...there is no free lunch

[arslansarwar]

You're joking? If not, then take a nap.

Markup rates are very high these days. But HBL is offering 15% markup to their customers till 15 November, and brother it's minimum in overall Pakistan.

[arslansarwar]

Bhai sahib to lgta hai 2 gariyan le kr smj rahe hain bank khareed rahe hain .
Inko shyd ye b maloom ni hoga k 2 gariyan lease krwane k liye shayad he ye bank k eligibility criteria py pora utarty hon, even on high interest rate.

[anon36782927]

This post was flagged by the community and is temporarily hidden.

[fastian04]

Yehi na bhai..bank hai charity center thora hai

[fastian04]

Meezan is a total crap..they hide more interest in a beautiful islamic wrap and then force us to eat for all the tenure. Worst services in car leasing..i have my last car financed from meezan..as i fell for Islamic banking film

[jibbbbzz]

from what i have calculated you pay upto 50 percent more than the original price of the vehicle to the bank even if you pay 50 percent down payment.

for 1975000 cultus you pay around 2650000 rupees to the bank in the end.

[def3nder]

14.99% per annum. Keep at in mind.

[fastian04]

Currently interest rates are worst of all time, so leasing/financing is practically out of question

[arslansarwar]

Seriously bro?

[mgalaxy3]

where did you learn your maths from?

[fastian04]

Easy guys...maths sometimes become tough

[def3nder]

hahahahaha calculator ? Sorry my bad direct 15 ko 5 years sey multiply kar dia tha i guess these markup rates are per annum interest. Arent they?

Suppose, A car is leased for five years. Interest rate showing is for one year.
Cost of a car (jo down payment k bad ki lease amount hai)plus interest rate multiply by time period will be equal to the amount which has to pay to the bank in five years.
Bank installment calculation is done on per day bases. Anyhow after the calculation, installment amount fix hoti. In that installment amount major portion is of bank interest and minor portion of car cost. and either they are taking the remaining amount by compound method or reducing balance method.

If I am wrong please correct me. Thankyou

[def3nder]

Nahi

[def3nder]

But i guess still five years ka plan b ho tou 60% interest tou touch karta hoga. right? 5 saloo me?