HBL Islamic Used Car Finance Honda Civic 2021 model. Check out the complete plan for leasing

HBL Islamic Car Financing We have a used Honda Civic 2021 model.UG Full Option Check out the complete plan for leasing for 3 years from HBL Islamic Car Financing ،HBL Bank provides you the facility to lease new cars as well as used vehicles. Today we take a complete look at the 3-year lease policy for Honda Civic and see how much monthly installments HBL Bank will charge from us, how much down payment we will have to give to the bank, how much markup HBL Bank will charge from us, how we will be eligible to get this vehicle, what will be the requirements for a salary person.In this calculator, we type the ex-showroom price of Honda Civic which is 6,178,220, which is an estimated price. The price may be lower or higher.We have to make a 50 percent down payment from the total price of the Honda Civic because under the new policy of the State Bank of pakistan, you cannot take a car loan of more than Rs 3 million from the bank.

When we lease a new car from a bank, the bank provides us with that car from a new dealership. Today I will tell you how to buy that car if you lease a used car from a bank. When your used car is approved by the bank, the bank will inform you to view the used car you selected in the market. When you view the car in the market, the banker will go and conduct a complete inspection of the car.After the vehicle is inspected, you will have to get a quotation prepared from the used car dealership. The payment will go to the account of the used car dealer through tuition. You will give the payment to the person from whom you bought the vehicle.Remember that the complete documents of the vehicle you like will have to be submitted to the bank first and then the vehicle will be delivered to you.Remember that if you have taken a loan for a used car of Rs 3 million and the value of the car is increasing, then the bank will be entitled to give you Rs 3 million. For example, if the price of a car is Rs 6 million, it means that you have kept in mind that we will take a used car of Rs 6 million and if the price of this car is Rs 6.2 million or more, then you will have to pay that price. Once the bank clears the vehicle inspection, the vehicle will be transferred to the bank, a tracker will be installed in the vehicle, and the vehicle will be delivered to you.

Check out the full used Honda Civic UG Full Option 2021 model plan below

Disclaimer: Please note that the monthly installment and payment schedule calculated here are tentative. Actual amounts may vary.

Overview

HBL Islamic Car Finance is a musharakah-based facility enabling you to get the car of your dreams.

Key Features

• Finance new and used vehicles for personal use.
• Payment tenure ranging – 1 to 5 years (vehicles up to 1000cc) – 1 to 3 years (vehicles above 1000cc).
• Comprehensive Takaful arrangement through business partners on the HBL panel.
• Initiation of rentals only after delivery of the vehicle to the customer.
• Quick processing with minimum documentation.
• Option for partial payment.
• Option for early termination of the facility.

Criteria

SALARIED INDIVIDUALS:

• The applicant must be a Pakistani citizen.
• The minimum age is 22 years for booking cases, and the maximum is 59 years or retirement age, whichever is lower (at maturity).
• For ready/used car cases, the minimum age is 22 years and the maximum 60 years or retirement age, whichever is lower (at maturity).
• The minimum monthly income is PKR 35,000.

SELF-EMPLOYED BUSINESS PERSONS/PROFESSIONALS:

• The applicant must be a Pakistani citizen.
• The minimum age is 22 years for booking cases, and the maximum is 69 years (at maturity).
• For ready/used car cases, the minimum age is 22 years, and the maximum is 70 years (at maturity).
• The minimum monthly income is PKR 35,000.

How to apply

SALARIED INDIVIDUALS TO PROVIDE:

• Copy of valid CNIC is required.
• Two recent passport-size photographs.
• The latest original or copy of the salary slip is required.
• Other documents as per bank policy.

SELF-EMPLOYED BUSINESS PERSONS/PROFESSIONALS TO PROVIDE:

• Copy of valid CNIC should be attached.
• Two recent passport-size photographs.
• Bank statement for last six months, signed and stamped by Branch Manager and bank letter confirming detail of the account.
• Proof of business.
• Other documents as per bank policy.

Guiding principle

HBL Islamic Car Finance is based on the concept of Diminishing Musharakah. Under this arrangement, the bank and customer become joint owners in a vehicle with an agreed investment ratio. ​

The Bank’s shares are divided into units that the customer purchases periodically to become the complete owner of the vehicle. The customer pays agreed rentals for using the bank’s share in the vehicle until the absolute ownership.​