Buying a car has become a major problem for local buyers due to rapidly rising vehicle prices. The high price tags have made it challenging to buy a car on cash. Meezan Bank has recently partnered with the most famous automobile company in Pakistan, Suzuki. The motive behind this partnership is to provide Easy Meezan Bank Car Instalment at discounted rates under the label of Car Ijarah Scheme. This initiative will benefit all middle-income buyers.
Amidst this inflated situation in the markets, it is almost impossible for people to even think about buying a car. But, the instalment option comes in handy for many for whom a vehicle is a need. So, Meezan Bank has brought discounted monthly instalment plans as a Car Ijarah scheme for vehicles like Suzuki Alto, Wagon-R, Suzuki Swift, and Suzuki Cultus.
The above-mentioned cars are included in the options that all middle-class buyers prefer to buy at an economical rate. Now they can be more economical as a result of this alliance between Meezan Bank and Pak Suzuki Motors Company Limited.
Meezan Bank Car Instalment Schemes
It is noteworthy that Meezan Bank is the first private Islamic Bank of Pakistan that supports Shariah law in all financial matters. The bank has introduced Car Ijrah Scheme to provide interest-free car financing to middle-class buyers in Pakistan. So, this Meezan Bank Car Instalment scheme is brought down through the Shariat law which saves the customers from paying heavy amounts of money in the name of interest.
The monthly instalments will be much lesser than the regular monthly rentals with ever-increasing interest rates. Customers can get a new car every two to three years with this One Window Solution. The offer is valid till 31st January 2023.
As a result of a partnership with the official company, Meezan Bank ensures the purchase of Suzuki Alto, Swift, Suzuki Wagon-R, or Cultus at a competitive price than available in the market. However, discounted rentals are only available on certain variants.
Monthly Rental Calculated
The rentals are calculated on a 30% Security Deposit and 25% Residual Value. So, the monthly rentals of each Suzuki car are as below:
- Suzuki Alto: PKR 40,302
- Suzuki Wagon-R: PKR 45,555
- Cultus: PKR 51,367
- Suzuki Swift: PKR 80,600
If you have had an experience with Meezan Bank for car ijarah, please share your thoughts in the comments to help others.