Wagon R VXL: A Worthy Engagement

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digitalmohsin (digitalmohsin) 2015-10-23 09:26:59 +0500 #1

Where I am:
Thanks to Almighty, I have bought my first car which is a brand new Wagon R VXL in silky silver.

Where I had been:
Before this I had a Mehran VX 2001 model which I inherited from my dad back in 2010 while I was studying in university.

The Process:
I have bought this car on lease with 50% down payment and 2 year lease period. I have leased it through an Islamic bank. In the whole process I have learned quite a lot regarding Islamic Auto Finance. So if anyone of you has any sort of confusion regarding Islamic bank, feel free to ask here.

The Experience:
In a single word, Amazing. This car is just great. I am loving every bit of it. certainly far far ahead than Cultus in every way. If you are wondering it has less space than cultus than you, my friend, are totally wrong. It is a mini Swift with better fuel economy. The shape? Ahh you will forget it once you put it in 5th gear.

So far I have driven it 250 km and it has given me the fuel economy of 14 kmpl which is not bad for a start as it will improve after some time.

Given the bang for the buck, I dont see any reason it would fail in Pakistan market. Certainly a worthy engagement.

                            Drives like Swift====Drinks like hybrid====Feels like JDM

The Way Forward:
As I am very new to this car, I would need members help in maintaining this car. So please feel free to give any suggestions and recommendations.

The Snaps:

ali15144 (ali15144) 2015-10-23 10:14:54 +0500 #2

So what is the difference between conventional and islamic auto financing?

ali_77 (ali_77) 2015-10-23 10:33:10 +0500 #3

Congrats brother. What was the actual price and registration charges etc. and whats the difference between VXL and VXR models?

mehrozniazi1 (Mehroz Khan Niazi) 2015-10-23 11:01:58 +0500 #4

congrats brother ...drive safe

digitalmohsin (digitalmohsin) 2015-10-23 11:02:41 +0500 #5

price 1,004,000 (I paid 50%)
w/h tax 20,000 (will get it back once car is transferred to my name)
premium 20,000 (had to do it as waiting time on VXL is 60 days to 90 days)
registration 35,000
Takaful 40,000
Bank Charges 8000
Total Including Down Payment: 625,000

digitalmohsin (digitalmohsin) 2015-10-23 11:09:41 +0500 #6

The basic principle of islamic banking is that it minimises risk for both parties. I have paid 50% and I am the owner of car as well as is the bank. secondly, islamic banks are very flexible when it comes to payment. if you have trouble paying you inform the bank of your circumstances and bank will let you use the asset without bothering you and wont charge you anything(i have been told upto one year); the case should be the genuine though. one good point is that in takaful you share the cost if car is accidented. this prevents me from misusing the car and if in the end i do not use takaful i will be given back my money after deducting takaful charges(some fixed amount and tracker charges)

Nabeel_Ali (Nabeel_Ali) 2015-10-23 11:20:42 +0500 #7

MashAllah bro beautiful purchase. May it serve you well. Enjoy

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digitalmohsin (digitalmohsin) 2015-10-23 11:22:20 +0500 #8

Thanks sir

digitalmohsin (digitalmohsin) 2015-10-23 11:22:41 +0500 #9

Thanks

Nabeel_Ali (Nabeel_Ali) 2015-10-23 11:25:16 +0500 #10

On a side note; just add rims and better tyres 185 profile and tint the windows.
Your ride would look awesome.

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digitalmohsin (digitalmohsin) 2015-10-23 11:26:11 +0500 #11

Tachometer, power windows, central locking are biggest differences between VXR and VXL. other differences are not so important.

digitalmohsin (digitalmohsin) 2015-10-23 11:27:29 +0500 #12

suggestions noted, thinking to add yokohama tyres. What brand rims should i put? can you suggest some?

digitalmohsin (digitalmohsin) 2015-10-23 11:28:30 +0500 #13

Wagon R doesnt have back speakers I certainly want them. can i install without altering anything??

ahmed2396 (ahmed2396) 2015-10-23 12:20:31 +0500 #14

Contact car nation liberty.

saboor73 (Saaboor A saad) 2015-10-23 12:27:38 +0500 #15

Congratez on new ride

saboor73 (Saaboor A saad) 2015-10-23 12:29:14 +0500 #16

Visit wargon fan club some members have mentioned that the wiring for speaker is there already you need to buy speakers only

ribbyun 2015-10-23 13:50:02 +0500 #17

congrats brother,,,,,

so how much installment u paying per month including tracker or any other charges? and from which bank u purchased?

digitalmohsin (digitalmohsin) 2015-10-23 14:07:59 +0500 #18

27k per month burj bank, 23k next year.

digitalmohsin (digitalmohsin) 2015-10-23 14:08:51 +0500 #19

what about power mirrors of wagon R japani?

ribbyun 2015-10-23 14:11:23 +0500 #20

how much it will actually cost you at the end of the day......
i hope its not interest of any sort?

if u can kindly comment plz...