Partial payment on car lease

[pwuser148111389730]

Hey everyone,
I do have a car leased for mcb islamic bank.
Can someone share the details of the partial payment procedure or details on it.
And if i do the partial payment so after partial payment car schedule will be revised. But i want to clarify if schedule is going to revise then KIBOR will also revise as per the current kibor rate?

[Proverbial_Slang]

Every bank has different plans for balloon payments. Some banks don't allow balloon payments, and charge a penalty for early payment of loan.

[pwuser166331039855]

I will suggest to do not do the partial payment.
Because right now maybe they accept without any issue. But after 3-4 years when all the payment will be done, then bank will have something very firm in their hand to raise the discrepancy in the documents.
They will say the payments are still short (though you have already paid as partial payments).
But what if they say oh… xyz person who collected those payments is working in bank no more and neither he updated the system.

Imagine this situation and consider to pay the payments in full.

[pwuser148111389730]

All recorded through account and scheduled get also revised after partial payment and i do have option for partial payment they said in the begining.