Car Loans in Pakistan l پاکستان میں کار لون l 360 Loans & Insurance

The ability to pay such outrageous quantities of money all at once for their ideal automobile has always been a prerequisite for being able to own a car. However, the normal person finds it extremely difficult to purchase their car outright with simply their money due to improved technologies and scarcer resources. Banks in Pakistan now offer auto loans that let you buy a car while progressively reducing the loan’s principle through monthly installments due to the increasing demand for financing both new and old cars.

When you acquire a car loan to pay for your car, you manage to maintain your savings for other current and future obligations. There are several advantages to getting a car on installments rather than spending such a significant quantity of money altogether that shall affect one’s budget. One of the best things about car loans in Pakistan is that you may receive one without mortgaging your home or other assets because the loan is secured by the car itself.

Additionally, you are permitted to utilize your vehicle during the length of the loan, allowing you to build upon your initial savings and eventually acquire ownership of the vehicle after the loan has been fully repaid. By obtaining a car loan and diligently adhering to the repayment schedule, you have the opportunity to expand your credit history. Your ability to get future loans is aided by having a solid credit history that includes on-time payments. Therefore, getting a car loan is a highly secure and sure option to buy your own vehicle.

Following Top Banks of Pakistan Offer Car Loan Facility

Habib Bank Limited (HBL)

Overview

Get your ideal car instead of just daydreaming. Providing financing up to 70% of the value of your preferred car, HBL provides a flexible and hassle-free financing option that enables you to acquire your dream car.

HBL Car Loan gives you the option to select any vehicle at a set markup rate facility that best suits your needs.

​Features

• Limits on financing range from PKR 200,000 to PKR 3,000,000.
• Within a five-year time frame, repay
• Pick any new or used car or truck made in the area.
• Receive finance for your desired vehicle up to 70% of its value.
• Always have insurance in place for piece of mind (with tracker facility)
• Multiple partial payment options available as needed
• You can choose from a wide range of brands and vehicles thanks to the network’s more than 150 approved dealers.
• HBL offers more than 1600 locations, so you may apply for a car loan whenever it’s most convenient for you by going to the one closest to you or using another method.
• HBL Phone Banking offers round-the-clock assistance
• Dedicated post-purchase support.

Documents Required

Paid employees are required to provide:

• Original and confirmed copies of the CNIC
• Three most recent passport photos
• Recent original pay stubs and three-month personal bank statements

Bank Alfalah Auto Loan 

When choosing the ideal car, take the wheel.
You can manage your payment schedule via Alfalah Auto Loan.

• You can buy a new or secondhand car that has been constructed or manufactured locally.
• Option for residual value to reduce your instalment
• Option to Defer Insurance and Registration Fees for Partial Payment
• No fees for the replacement vehicle option

Allied Auto Finance- By Allied Bank Limited

You no longer have to wait to purchase your ideal vehicle because Allied Bank now provides its clients with a low-margin car loan option with flexible repayment options.

Eligibility Criteria

If any of the following apply to you, Allied Bank will finance your car:

• You are a citizen of Pakistan.
• You range in age from 21 to 59.
• You have a salary and are a permanent employee
• who has had a salary account with ABL for at least six months.
• Your net monthly pay is at least Rs. 40,000.
• Your tenure with your current employer is at least three years.

Benefits & Features

• No additional fees
• Up to Rs. 6 Million in financing
• Easy to understand documentation
• Allowance for up to 80% of the finance
• If your application for a car loan is rejected, there are no processing fees.
• Processing applications quickly and easily takes little time.
• Up to a 7-year repayment period is freely select-able (12–84 month payback period)

Suzuki Finance Arrangement

The Suzuki Finance Arrangement Program is the easiest and most practical method of financing a vehicle.
You can now apply online while lounging at home or work! Having numerous value-added advantages, the Suzuki Finance arrangement programme is a unique and innovative financing solution.

The benefits of financing your vehicle through the Suzuki Finance Arrangement Program are as follows:

• Quick and painless processing
• A down payment that is reasonable for you
• Low cost comprehensive insurance
• Deliveries of Priority
• Assurance with a complimentary third-year extended warranty
• The most economical and competitive pricing
• No additional fees

Pak Suzuki, the top automaker, and Bank Alfalah Ltd, the top auto financing bank, have teamed up to offer an innovative financing solution with numerous value-added advantages in order to keep up with the age of digital transformation and with a customer-centric approach. This programme is accessible throughout Pakistan at authorized Pak Suzuki dealerships, Bank Alfalah Limited, and online. When compared to other auto financing programs, the programme offers appealing features and unmatched benefits.

Roshan Apni Car- By Bank Al-Habib 

For those who have a Roshan Digital Account at Bank AL Habib Limited, Bank Al-Habib Pakistan is now providing Roshan ApniCar (Auto Finance) facility to enable them to purchase a vehicle for their spouse, parents, or children who reside in Pakistan.

Product Eligibility Criteria :

• Financing option for new, used, and imported cars.
• With a resident Pakistani spouse, parent, child, sibling, or other family member as a co-borrower on the non-resident Roshan Digital Account (RDA) at Bank AL Habib Limited (BAHL), or with a resident Pakistani who also has an RDA at BAHL.
• Minimum Down Payment varies from 15 to 45% depending on the car model.
• Holder of a nationality or permanent residency card from a country other than the Gulf, as well as residency or a resident card from a Gulf country.
• Vehicle to be registered in the borrower’s name or as co-borrower with their spouse, parent, child, or sibling.
• From the Roshan Digital PKR Account, the facility will be paid for, and monthly payments will be collected.
• Lien marking on the financing amount for lien-based facilities is 100% for PKR deposits and 120% for deposits made in foreign currencies.