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Car Financing is an easy way to get the Car with Least Interest Rates

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In Pakistan! The process of car loan/ car financing is an easy way to own a car. A self-employed business /salaried person having a suitable and verifiable income stream can request for bank financing. Car leasing ,often considered complicated, is getting more popular because the bank are making the process very easy and attractive for the customers. The majority of the banks in Pakistan is offering the standard product of car finance. Car financing rates are independent upon the terms of financing and types of arrangement.

Islamic Car Financing:-

Other than the conventional banking few banks are offering Islamic car financing. Like, Meezan Bank, Bank Islami, Faysal Bank and Dubai Islamic Bank etc are prominent banks offering Islamic car financing. The main difference between conventional auto financing and Islamic auto financing is the factor of interest .Islamic banking practices avoid interest. Islamic auto financing is known as Car Ijarah which is somewhat similar to a rental agreement .Under this agreement, the bank purchases the car and rents it out to the customer for a mutually agreed period of 1 and 5 year . upon completion if the Ijarah period ,the car will be gifted to the customer or sold at a token amount .HBL Car Loan offer is quite affordable for getting your dream car on lease as well as Meezan Bank Car Ijarah Scheme.

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