Drive your Dream Car Today

Faysal Islamic Car Finance is based on the principles of Diminishing Musharakah. This is a medium and long term financing product, where the Bank and the customer jointly purchase an asset and create joint ownership in the asset. The Bank rent out its share in the asset to the customer while the customer periodically purchases units of ownership in the asset from the Bank. After purchase of all the units, the customer becomes the sole owner of the asset.

Features & Benefits

• Fast and Hassle-free application process
• Flexibility in selection of cars (Assembled/Manufactured)
• Facility against brand new as well as used vehicle
• Financing amount up to 70% of the value of vehicle
• Flexible Financing Tenure
  Maximum 5 Years (Vehicles up to 1000 CC)
  Maximum 3 Years (Vehicles above 1000 CC)
• Partial Pre-payment facility available
• Co-Partner facility available
• Early settlement option
• Takaful coverage from reputable Takaful Companies on FBL Panel
• Tracker will be installed in vehicles for maximum safety.
• Installments start after vehicle delivery
• No processing fee until financing approval
• Up to 9-year old vehicle can be financed
• Property rental Income can be considered as primary income or additional to the basic income

Residual Value Financing

In Residual Value module enables the customer to take a car on significantly lower monthly installment, because here the customer agrees to pay the bank a certain price for the acquisition of the car upon completion of financing period. Depending on their repayment capacity, the customer can also get a much higher valued car than they can get under the regular financing module. This scheme is available for the selected new local assembled vehicles manufacturer i.e., Suzuki, Indus, Honda, KIA, and Master.

Please find the Residual Value grid.

1 & 2 Year rent only plan

Under this plan/option the customer pays Rental portion only, of this installment for 1st year in one year plan and 1st and 2nd year of the financing tenure in the two year rent only plan. It provides relief to the customers in installment in 1st and 2nd year so that the customer is not overburdened.