#car financing calculator
Note: Insurance will be calculated separately.
Can I avail the car loan facility?
Yes, you can if:
Which car types are offered for financing?
How much loan facility can i avail?
For brand new vehicles, minimum Rs. 200,000/- and maximum Rs. 6,000,000/-
For used vehicles, minimum Rs. 100,000/- and maximum Rs. 4,000,000/-
What is the period of the loan?
Minimum 1 year & maximum 5 years for all vehicles.
Minimum 1 year & maximum 7 years for brand new vehicles with engine capacity of 1000 CC & above.
How much initial down payment do I have to make?
For brand new locally manufactured vehicles – 20 % of the value of the vehicle
For imported/used vehicles – 25% of the value of the vehicle (As assessed by the approved evaluator of the Bank)
What other charges do I have to pay?
You have to pay a processing fee of Rs. 5,000/- (exclusive of FED), registration charges and first year’s insurance premium.
Who will insure the car?
Bank Alfalah has made arrangements with top insurance companies which are offering special low insurance rates for Bank Alfalah clients.
How do I repay the loan?
Following modes are available for repayment:
Can I repay the loan before the maturity?
Yes, you have the option to repay the loan as per the prevailing SOC’s after six months of availing the finance facility
What is the security of the loan?
The car is the security, which will be hypothecated in favor of the bank and lien will be marked with the respective Excise & Taxation Department.
What if I want the car in the name of my family members?
You can avail the facility with joint registration title with
What documents are required to get a car loan sanctioned?
Our representative will discuss in detail the documents you are required to submit. An indicative list is given below:
For Salaried Individuals
For Self-Employed Individuals
How is it different from other financing schemes available in Pakistan?
What is the first step I need to take?
You can call 111-225-111 to talk to our Phone Banking Officer or stopover at your nearest branch from our network of over 640+ nationwide branches in Pakistan.