Faheem, as stated above by Pakwheelers, road till Jalkad is in great condition and any car can reach easily once the glaciers / avalanches are cleared and that i think will be done by mid june as FWO / NHA teams are working on it. U can easily reached Jalkhad and the sceneries are great compared to other areas. After crossing Jalkhad, U have to reach Babusar Pass and U can also carry your car to Lulusar lake but I will suggest you to hire a jeep from Jalkhad for the same as sometimes there are some bolders or rocks that can disturb your car's suspension, U can but dont take any risk as u have to drive back to on ur car and anything can happen anywhere.
Just be careful and use your mind and vision. Also, the locals will always say that the road is great but their great means it can be easily crossed with jeeps and heavy cars.
Best of Luck.