Purchasing a car is one of the biggest financial commitments you can make and that is why you need to look at the options available so that you can make decisions that can save you money in the longer run. This article will help you in case if you are planning to get car financing through MCB for their MCB Car4U product.It also explains what kind of applicants, MCB Car4U is good for.
There are so many different car financing options out there in Pakistan that it can often seem difficult to find what is right for you. This is where a comparison website such as Mawazna.com can make the difference because results that are tailored to your specific needs can help you to make an informed decision. When it comes to finding car finance, one of the good option to be considered is MCB Pakistan and the product on offer called MCB Car4U.
What is MCB Car Financing?
Owning your own car is what most people dream of but using MCB Car4u can turn that dream into a reality and help you to find the perfect car. It is a flexible financing option that is ideal for a professional who earns a regular salary or someone who is self-employed – there is something for everyone. MCB Bank has looked to offer something to everyone and there is even Car4u product that is set up for agriculturists and even landlords.
The great thing about MCB Car4u financing is that the rates are some of the best out there and are perfect for a wide range of cars and tenors. In fact, if you already bank with MCB you can pay even less as there are special rates on offer. MCB offers many different deals to a number of different areas such as salaried individuals who work for certain companies – giving them access to deals such as a special pricing of 1 Year KIBOR + 2.5%.
What are the Key Features Offered by MCB Car4U Financing?
It is a flexible form of finance that is designed for new cars and used cars. Customers have the ability to borrow as much as PKR 6 million for new cars and up to PKR 4 million for used cars with the tenure ranging from 1 to 7 years. There are no restrictions when it comes to the car you want to purchase and so, you can buy new, used, local and imported cars.
The rates on offer are extremely competitive and there is the option to finance a second car as well as the ability to make additional payments to either pay off the loan or reduce the monthly payments. Customers have the ability to finance up to 80% of the value of the vehicle while they can also upgrade any loan they have on an existing car with a new loan without the need to pay a pre-payment penalty.
Key Benefits of Applying for MCB Car4U Car Financing?
For those who apply, if a loan is not approved then there is no fee to pay. However, for those that are approved, it is possible to take the car away as soon as it is delivered which means no long waiting times. The finance is available at almost 150 approved dealerships throughout Pakistan, offering choice and versatility.
The whole process of applying, acceptance and receiving the finance is quick. One benefit that should not be ignored is the fact that their customer service is superb. Customers have the ability to walk into centers in 12 major cities making them accessible and approachable. To round all of this off, once the loan has ended the NOC is issued promptly.
What Makes you Eligible for MCB Car4U Car Financing?
In order to take advantage of some of the great offers and rates from MCB, you will need a monthly income of PKR 30,000, while you will also need to be at least 21 years or 65 years old at the other end of the scale. You must have been employed for a minimum of six months or 1 year if you are self-employed.
What Do You Need to Apply?
Applying for the financing is simple. All that is required is a copy of CNIC, a bank statement that 6 month to 1-year-old, proof of your income and two passport sized photographs.
MCB Car Financing is designed with customers’ needs in mind and this means that it ticks a number of boxes. However, remember that comparing is important because you need to ensure that you make a decision that works for you in every possible way.
Mawazna.com is a growing financial services comparison platform in Pakistan that enables consumers to make more informed decisions when choosing financial products and services including car financing, personal loan, home financing, health, car, and travel insurance comparison, selection and buying an insurance policy offered by leading insurance companies of Pakistan. Visit us online to compare banking (all loan products including car loans in Pakistan), insurance (car insurance, travel insurance, and health insurance) and broadband products to make more informed decisions.
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