The minimum amount required for car finance is 35% as a down payment. Our user-friendly car loan calculator helps you to take a car on installments in Pakistan. You can compare the interest rate, insurance rates, markup, and varying Kibor rates of changing banks. It will help you to take a bank loan for car at a reliable price according to your budget.

The eligibility criteria for financing a car in Pakistan varies. For a salaried person, the applicant's age should be 22 years old or a maximum of 65 or less at the time of maturity. The maximum income of the salaried person should be RS 80,000. The salary of a self-employed individual should be RS 1,00,000. However, in the case of pensioner/remittance income, the minimum age should be 65 or less, with a salary of RS 1,00,000.

The minimum financing criteria for new and used cars is 1 year, and for the maximum, it is 5 years. If the car is up to 1000cc, the tenure should be 1 to 5 years for the model of 2016 and onwards. However, if the car is more than 1000cc, the plan should be 3 to 5 years for the car from 2016 onwards. However, Faysal Bank and Dubai Islamic Bank offer car financing for 9 years old vehicles as well, with a tenure of 3 years.

The documents for car financing vary on the type of employment in Pakistan. The general documents that we need are 2 passport-size pictures, a CNIC copy, an appointment letter, a bank account maintenance letter, and a letter with 6 months to 1 year of job experience. In addition, both bank letters and bank statements should be signed and stamped.

Islamic car finance is a type of financing that follows Shariah-compliant principles. It operates on the concept of Musharakah, where the bank and the borrower share the cost and profit of the car purchase.

Several banks offer competitive interest rates for car loans in Pakistan. It is recommended to compare the rates and terms offered by different banks before making a decision. Some of the popular banks for car loans include MCB Bank, HBL, and Faysal Bank.

The permissibility of car financing, also known as auto loans, in Islamic finance depends on the specific structure and compliance with Shariah principles. Islamic banks offer halal car financing options that adhere to Shariah guidelines, such as avoiding interest-based transactions and promoting profit-sharing models. It is important for individuals to seek guidance from Islamic scholars or experts to ensure compliance with Islamic principles in car financing.

The loan tenure and EMI (equated monthly installment) are inversely related. This means the longer you take to pay off the loans, the lower the amount in installments you will have to pay and vice versa.

The maximum down payment which the individual has to pay is 70%. Moreover, each bank has a varying policy, interest rate, and insurance rate. Furthermore, the vehicle owners' credit source and financial history play an important role in determining the maximum amount they can borrow.

No, we don't charge any additional charges for auto financing. However, you need to pay a significant upfront cost as a downpayment. It varies, ranging from maximum to minimum. The customers can choose the one suitable for them on the car loan calculator present on our website.

Yes, there are 1-7 years in which the vehicle owners have to repay the borrowed money to the banks. Moreover, the car finance limit is RS 50 lacs to 2 lacs. The minimum price of a car should be a minimum of 50 lacs or a maximum of 2 lacs.

The banks consist of car insurance services along with financing for both new and used cars. However, banks have varying insurance companies and types of insurance for car owners. It depends upon their needs and demands on which insurance they will choose.