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Car Loan Tips for Pakistan
Minimum down payment
Banks in Pakistan require 15-30% down payment. Some Islamic banks offer up to 90% financing.
Best interest rates 2024
Islamic banking (Meezan, Bank Islami) typically offers better rates than conventional banks. Rates range from 22-25% per annum.
Tenure advice
60 months (5 years) is the most popular tenure. Longer tenure means lower EMI but higher total cost.
Filer advantage
Tax filers get reduced withholding tax on car purchase AND some banks offer better rates to ATL filers.