UBL Car Loan Calculator
Many banks offer car loans in Pakistan with various features. Nearly all banks have an online calculator that can help customers calculate how much monthly payment they will need to make if they take out a car loan. UBL also offers car loan options for consumers at attractive rates. To estimate your monthly payment, you can use the UBL Car Financing Calculator. This calculator is useful if you are on a tight budget or don’t want to take out any debt. The calculator can be accessed online at UBL’s website.
How to use UBL Car Finance Calculator?
We have provided easy steps to use the UBL car loan calculator:
Step 1: Choose a product variant
Choose the product variant you want from the drop-down menu in the UBL car loan calculator. The type of loan that you are interested in is called the product variant. UBL offers four types of car loans: Normal, Zero Penalty, Auto Loan with No Penalty, Good Citizen Account – pledge based and Good Citizen account – non-pledge. Each variant has its own benefits, but we recommend the Normal one.
Step 2: Choose the Type of UBL Drive
UBL Drive offers auto financing and auto leasing. This is the main difference between these loans. Auto financing allows the customer to jointly own the vehicle with the bank. The vehicle becomes the property of the customer at the end of the loan term. A lease agreement is a rental agreement. The bank owns the vehicle, while the customer rents it. The vehicle must be available to the customer at a residual price after the term ends. Select the desired mode by using the UBL car financing calculator drop-down menu.
Step 3: Choose the type of market
To select the mark-up that you wish to pay, use the drop-down menu of the UBL car financing calculator. Fixed or floating. Floating mark up may vary with KIBOR ( Karachi Interbank Offer rate) and may decrease/increase. The fixed rate will not change, however.
Step 4: Select filer status
To select your tax filing status, use the UBL car loan calculator drop-down menu. Select filer if you are a filer. You can also choose non-filer from this drop-down menu.
Step 5: Select Segment
Choose your segment from this drop-down menu. Segment refers to whether you are an existing customer/account holder at UBL.
Step 6: Select an Insurance Company
Select the insurance company you prefer from the drop-down menu in the UBL car loan calculator. There are many options.
Step 7: Choose Make & Model
To select the Make & Model that you wish to finance, use the UBL Car finance calculator. You have the option to choose from any Yaris model if you are looking to finance a Toyota Yaris. This is true for all other vehicle manufacturers and variants.
Step 8: Choose a Category
To select the vehicle you want, you can also use UBL’s car financing calculator. No matter if the vehicle is brand new, locally assembled, or used. Simply use the drop-down menu for your choice.
Step 9: Enter the Vehicle Cost
Enter the total price of the vehicle that you wish to finance in the UBL car loan calculator menu. The latest prices for vehicles can be viewed by the company.
Step 10: Choose the down payment
The down payment rate is the amount of contribution that you are willing to or able make. This will depend on how much you are able to contribute, as well as the minimum down payment required by the State Bank of Pakistan. For cars with less than 1000 CC engine power, the current requirement is 15% of the invoice value. For vehicles with more than 1000 CC, the minimum downpayment is 30 %. Choose the amount of down payment you’re willing to make in the UBL car loan calculator.
Step 11: Choose the Tenure
To select the tenure, use the UBL Car Finance Calculator’s drag menu. Vehicles with engines capacity less than 1000 CC are allowed to be owned for 7 years. Larger engines have a maximum tenure of 5 years.
Step 12: Calculate the monthly installment
After you’ve completed all of the inputs into the UBL car financing calculator click the “calculate” button. The calculator will give you an estimate for your monthly installment. The monthly installment is the total of your monthly principal repayment, insurance payment and mark-up on outstanding principal amount. You can get an exact estimate of your monthly installment using the UBL car finance calculator.