Yes I have availed it. The only upside is fixed payups that do not get affected by kibor and that was my reason for choosing it. In every other way they charge more than conventional financing. Also when you finance, make sure to opt for TPL as your insurance coverage and make them put that in writing or you will get bad companies like pakqatar who will ruin your peace of mind.
Also because the car will be on meezan bans name you will always need to get the insurance forms from them in order to claim insurance. They will also reduce the amount of coverage 10% every year so your car will not be comprehensively insured.
you will need to open a meezan bank account where you will need to deposit the monthly payments before 15th of every month. Make sure meezan bank pays the advance tax on your vehicle which also means you cannot claim it back in your tax returns.
All that being said, please do read the ijarah agreement thoroughly. Also the first installment will be almost double the following payments.
Thats all the info from the top of my head. In short "Islamic" banking is a word that makes such banks markup their profits even more and twist the words to make it fit the islamic definitions. Wish you all the best.
