![]() Pak Suzuki Motor Company Limited (“PSMCL”) will allow cancellation in case of the death of the customer.PSMCL shall have the right to cancel the booking in case of any mis-declaration by the customer.The registration charges are approximate and may change depending on your city Motor Vehicle Excise and TaxationĪ booking once accepted will not be cancelled or altered except that:.Processing Fee and all other charges will be applicable as per Banks Schedule of Charges.Monthly instalment and insurance charges shown are tentative and subject to change.Suzuki Vehicles that can be financed under Residual Value Product are Bolan, Mehran, WagonR, Cultus, Swift, Ciaz and Vitara.Residual Value Product is available for residents of Islamabad, Lahore, Multan, Faisalabad and Karachi only.Bank Schedule of Charges (SOC’s) are subject to change on yearly basis, however terms and conditions once specifically offered in individual cases for the whole tenure of the loan will remain unchanged/unaffected.KIBOR rate (One Year) on the first day of the month will be applicable and will be revised on loan anniversary.In some cases additional documents may be required for case processing Case processing will start once all required documents from the applicant are received.Cases will be processed subject to satisfaction of Debt Burden Ratio (DBR) (as per Prudential Regulation’s- State Bank of Pakistan), Bank’s internal credit policy and due diligence checks.The Bank will provide case decision based on applicant’s documentation, credit history, bureau checks and satisfaction of Internal Bank Policy.This is usually the main concern for the average car buyer to see if it fits their budget Monthly installments can be done via manual or auto deduction. With the car loan amount, loan tenure, and interest rate decided, a monthly installment amount will be obtained. Keep in mind that an early settlement for your car loan will not drastically reduce the interest that you have to pay. The choice is yours to make depending on your financial needs. Some car buyers prefer to pay a higher down payment to reduce the interest paid, while some prefer to have more cash in hand. ![]() Down payments can also be paid by trading in your current vehicle. Down payment and interest ratesĪ minimum of 10% down payment is usually required by banks for the purchase of a brand-new car and about 20% for a used car. The interest rate of the car loan will be affected by the type of car (sports car/family car), loan amount, loan tenure, and your credit history. ![]() Whether or not you will be eligible for a car loan depends on factors like the loan amount, loan tenure, your monthly net income, credit score, and other factors. Car Loan EligibilityĬar loan or financial service providers include banks and some car companies themselves. Loans enable you to hold on to your cash in hand by charging you an interest over a certain period of time. In Malaysia, car loan tenures can take up to 5, 7, or even 9 years. The bank’s valuation of the car is important since it serves as a collateral in case of loan default. Used cars can be purchased on a loan too, provided they’re not valued too low. Purchasing a brand-new car is usually done with car loans or financing services. ![]()
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