This monthly installment is the sum of your monthly principal repayment, monthly insurance payment, and the mark-up on the outstanding principal amount. Once you have made all the inputs in the UBL car financing calculator, just press the “calculate” button and the calculator will provide you with an estimate of your monthly installment. Step 12: Calculate your monthly installment The maximum allowable tenure for vehicles with an engine capacity of 1000 CC or less is 7 years while that for larger engine capacities is 5 years. Use the drag menu in the UBL Car finance calculator to select the tenure. Select the down payment in the car loan calculator UBL you are willing to make. The minimum downpayment requirement for vehicles above 1000 CC is 30 %. The current requirement is 15 % of the invoice value for cars with an engine power of 1000 CC or less. This depends greatly on what you can afford to contribute and also the minimum down payment requirement as per the State Bank of Pakistan. The Down payment rate is the contribution you are willing or able to make. You can check the latest price of vehicles from the respective car company and input the price. In the menu of the UBL car loan calculator, enter the total cost of the vehicle you want to finance. Just use the drop-down menu to select your preference. Whether brand new locally assembled, used, or imported. You can also use the UBL car financing calculator to select the type of vehicle. The same goes for all other vehicle companies and their variants. For instance, if you want to finance Toyota Yaris, you have the option of selecting from all Yaris variants. Use the UBL Car finance calculator to select the Make & Model you want to finance. Step 6: Select Insurance Companyįrom the drop-down menu of the car loan calculator UBL select your preference for the insurance company. Segment means if you are an existing customer/account holder of UBL or not. Select your segment from the drop-down menu. If you are a non-filer, select non-filer from the drop-down menu. If you are a filer select filer from the drop-down menu. Use the drop-down menu of the UBL car loan calculator to select your tax filing status. While the fixed rate will remain unchanged. Floating mark-up variates with KIBOR( Karachi Interbank Offer Rate) and may decrease/increase. Use the drop-down menu in the UBL car financing calculator to select the type of mark-up you want to pay. Use the drop-down menu of the UBL car finance calculator to select the mode you prefer. At the end of the tenor, the vehicle has to be offered to the customer for purchasing at a residual value. The lease facility is a rental agreement, the bank is the owner of the vehicle while the customer pays a rental for using the vehicle. At the end of the loan period, the vehicle automatically transfers to the ownership of the customer. In auto financing, the vehicle is jointly owned by the customer and the bank. The primary difference is in the modality of these loans. UBL Drive is offering auto financing as well as auto leasing to customers. All have different benefits but we would recommend the Normal variant. UBL is offering four different car loan variants: Normal, Zero Penalty Auto Loan, Good Citizen Account- pledge based, and Good Citizen Account- non-pledge. The product variant refers to the type of loan you want to avail of. Select the product variant from the drop-down menu of the car loan calculator UBL. How to use the UBL Car finance calculator?īelow we provide easy steps for using the car loan calculator UBL: Step 1: Select Product Variant You can access the calculator online through UBL’s official website. This can come in handy if you have a limited budget and you do not want to burden yourself with debt. You can use the UBL Car financing calculator to estimate what your monthly installment will be. UBL is also offering car loan facilities for consumers at competitive rates. Nearly all of them have provided a car loan calculator online to assist customers in estimating how much monthly installment they will have to pay if they avail of the car loan facility. There are countless banks in Pakistan offering car loans with different features.
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