Salam!
Hope you all are well. I am looking to finance a used car from bank islami worth 25 lacs,
They are offering financing with 20% down payment (5 lacs) and bank will finance 20 lacs. tenure is 5 years. Installment amount is 46000/month including insurance. so over the period of 5 years i will return a total of 27 lac 60 thousand back to bank.
I was wondering if the terms they are offering are reasonable and is there any better options other than bank islami. Please share your experiences/thoughts i will really appreciate any help.
Cheers.