Buying a car has always a dream for everyone but pay full payment for your car is not possible for everyone with the passage of time the prices of cars increase and it is not possible for average income people to pay full amount at one time and get the car. As the prices of cars increase the technology also move for giving relaxation policies for consumers. Many of the banks help to buy a new car with easy payments ways. You just fulfill the required documents and the bank will help you to finance your car on easy installments. To pay an installment is easier than the pay full amount at one time and will face problem in your monthly budget. Pay a huge amount at one time will disturb your budget and pay your car payment on installment will manage your budget easily. There is not a difficult process to get the car financed by bank in Pakistan many of banks provide this service for its customers on easy ways the specific documents required and you will get your car on finance by the bank.
Procedure for Getting Car Financed
- lIf you want to get the car on finance just go throw these simple steps.
- The first step is to select your dream car.
- how much the part of your budget you want to spend on your car.
- Go to your bank to get a car on leasing.
- Fulfill the requirements of the bank.
Bank Procedure
It’s not possible for everyone to get the car financed by the bank because every bank has its own policy and this service only provide to the customers of the bank. Every bank has many options for its customers to give the car on finance. Bank check your last 6-month account details to check you are able to pay the amount of your car or not. If you are salary holder then your salary must be transferred in the bank account every month and first, you have to pay the amount of the installment of your car. The bank required all the resources of your income to check that you are able to pay to require installment amount or not. Amount of your installment depends on the vehicle you choose for your self it is brand new, used or imported every bank have their own policy but most of the banks offer a maximum 85% the total value of the car. The maximum time to pay the total amount of your car is seven years but its depend on the amount you pay easily if you complete your installment earlier you will free of installment.
Interest Rate
Bank charge interest rate as a service and this amount is a separate charge from your car price and included in your installment. This amount will depend on the price of the car and the installment you paid on a monthly basis. The interest rate depends on the duration which you pay the installment of your car. If you delay paying the amount of your car the interest is also increasing with the time. Bank charge this amount as a profit against the hard money they spend on your car. It’s better to pay the installment amount of your car on time to save from extra charges.
Calculate Car Finance Amounts on Autodeals
You can easily calculate the car finance amount on Autodeals.pk and it will help you to find the best bank to get a car on finance.
