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Car leasing or Car financing process/expenses depends on car types, financing tenure and down payment. If you choose small car like Suzuki Cultus or Suzuki Wagon R the markup rates provided by car leasing banks are different and less as compare to luxury and big car.

The most suitable and economically fit car in the market is Suzuki Cultus so we are going to compare it with almost all banks that provide car financing facility. For perception in below comparison about Suzuki Cultus VXR some parameters like car financing for 5 years on 20% down payment have been fixed for ease to understand.

If you choose long tenure then markup rate would also be increased. In the first year some Banks also provide insurance facility and include insurance premium in the total initial deposit but optionally you can choose insurance company. Mostly annual premium rates are fixed or same. Car leasing or financing car banks offer different services to attract their customer or potential customer.

Suzuki Cultus VXR (Avg. Rate PKR 1,250,000)

Bank Al-Habib Limited Car Finance Breakup (Apni Car) – Extra Expenses of 05 Years is PKR 365,180

  • Total Cost = Monthly Installment + Processing Fee + Initial Deposit
  • Monthly Installment: PKR 21,918 x 60 (12 months x 05 years) = 1315080
  • Processing Fee = PKR 4000
  • Initial Deposit/ Down Payment = PKR 296100
  • 1615180 (1315080+4000+296100)
  • 1615180-1250000 = 365180 Extra Expenses for 05 Years

Dubai Islamic Bank Car Finance Breakup (DIB Auto Finance) – Extra Expenses of 05 Years is 372,734

  • Total Cost = Monthly Installment + Processing Fee + Initial Deposit
  • Monthly Installment: PKR 21,793 x 60 (12 months x 05 years) = 1307580
  • Processing Fee = PKR 8352
  • Initial Deposit/ Down Payment = PKR 306802
  • 1622724 (1307580+8352+306802)
  • 1622734-1250000 = 372734 Extra Expenses for 05 Years

Askari Bank Car Finance Breakup (Ask 4  Car) – Extra Expenses of 05 Years is PKR 374,834

  • Total Cost = Monthly Installment + Processing Fee + Initial Deposit
  • Monthly Installment: PKR 21,828 x 60 (12 months x 05 years) = 1309680
  • Processing Fee = PKR 8352
  • Initial Deposit/ Down Payment = PKR 306802
  • 1624834 (1309680+8352+306802) 1624834-1250000 = 374834 Extra Expenses for 05 Years

HBL Car Finance Breakup (HBL CarLoan) – Extra Expenses of 05 Years is PKR 490,173

  • Total Cost = Monthly Installment + Processing Fee + Initial Deposit
  • Monthly Installment: PKR 23725 x 60 (12 months x 05 years) = 1423500
  • Processing Fee = PKR 6000
  • Initial Deposit/Down Payment = PKR 310673
  • 1740173 (1423500+6000+310673)
  • 1740173-1250000 = 490173 Extra Expenses for 05 Years

MCB Car Finance Breakup (MCB Car4U) – Extra Expenses of 05 Years is PKR 389,600

  • Total Cost = Monthly Installment + Processing Fee + Initial Deposit
  • Monthly Installment: PKR 22080 x 60 (12 months x 05 years) = 1324800
  • Processing Fee = PKR 5000
  • Initial Deposit/Down Payment= PKR 309800
  • 1639600 (1324800+5000+309800) 1639600-1250000 = 389600 Extra Expenses for 05 Years

UBL Drive Car Finance Breakup (UBL Drive) – Extra Expenses of 05 Years is PKR 406,800

  • Total Cost = Monthly Installment + Processing Fee + Initial Deposit
  • Monthly Installment: PKR 22334 x 60 (12 months x 05 years) = 1340040
  • Processing Fee = PKR 6000
  • Initial Deposit/Down Payment= PKR 310800
  • 1656840 (1340040+6000+310800)
  • 1656840-1250000 = 406800 Extra Expenses for 05 Years

JS CarAamad Car Finance Breakup (CarAamad) – Extra Expenses of 05 Years is PKR 459,180

  • Total Cost = Monthly Installment + Processing Fee + Initial Deposit
  • Monthly Installment: PKR 23368 x 60 (12 months x 05 years) = 1402080
  • Processing Fee = PKR 7500
  • Initial Deposit/Down Payment= PKR 299600
  • 1709180 (1402080+7500+299600)
  • 1709180-1250000 = 459180 Extra Expenses for 05 Years

Bank Alfalah Car Finance Breakup (Alfalah Car Financing) – Extra Expenses of 05 Years is PKR 396,270

  • Total Cost = Monthly Installment + Processing Fee + Initial Deposit
  • Monthly Installment: PKR 22156 x 60 (12 months x 05 years) = 1329360
  • Processing Fee = PKR 7960
  • Initial Deposit/Down Payment= PKR 308950
  • 1646270 (1329360+7960+308950)
  • 1646270-1250000 = 396270 Extra Expenses for 05 Years

Faysal Bank Car Finance Breakup (Faysal Car Finance) – Extra Expenses of 05 Years is PKR 417,770

  • Total Cost = Monthly Installment + Processing Fee + Initial Deposit
  • Monthly Installment: PKR 22590 x 60 (12 months x 05 years) = 1355400
  • Processing Fee = PKR 6960
  • Initial Deposit/Down Payment= PKR 305410
  • 1667770 (1355400+6960+305410)
  • 1667770-1250000 = 417770 Extra Expenses for 05 Years

Soneri Bank Car Finance Breakup (Soneri Car Finance) – Extra Expenses of 05 Years is PKR 431,330

  • Total Cost = Monthly Installment + Processing Fee + Initial Deposit
  • Monthly Installment: PKR 22848 x 60 (12 months x 05 years) = 1370880
  • Processing Fee = PKR 6000
  • Initial Deposit/Down Payment= PKR 304450
  • 1681330 (1370880+6000+304450)
  • 1681330-1250000 = 431330 Extra Expenses for 05 Years

If you initially select 6 year tenure period and afterward want to change it into 3 year tenure then you have to pay some minimal earlier adjustment charges but it also decrease markup rate. Karachi Interbank offered rate (KIBOR) provide 2 markup rates (KIBOR+7%, KIBOR+10%).
KIBOR is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Karachi wholesale (or “interbank”) money market.

Car leasing or financing banks offer different services to attract their customer or potential customer.

There are some reputable and famous insurance companies that provide insurance facilities on six month and annual basis

  • EFU
  • Adam Jee General insurance
  • Shaheen Insurance
  • TPL Direct Insurance
  • And Askari General Insurance

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