This document provides a tentative car finance calculation for an applicant purchasing a Suzuki Cultus VXRi for PKR 1,124,000. It outlines an initial down payment of PKR 340,000, with the remaining PKR 784,000 to be financed over 5 years at a markup rate of 10.98%. The upfront payment totals PKR 414,996 including insurance, fees, and registration. The monthly installment for the first year will be PKR 17,038 with additional insurance payments, decreasing slightly each subsequent year until only the installment remains in year 5.
This document provides a tentative car finance calculation for an applicant purchasing a Suzuki Cultus VXRi for PKR 1,124,000. It outlines an initial down payment of PKR 340,000, with the remaining PKR 784,000 to be financed over 5 years at a markup rate of 10.98%. The upfront payment totals PKR 414,996 including insurance, fees, and registration. The monthly installment for the first year will be PKR 17,038 with additional insurance payments, decreasing slightly each subsequent year until only the installment remains in year 5.
This document provides a tentative car finance calculation for an applicant purchasing a Suzuki Cultus VXRi for PKR 1,124,000. It outlines an initial down payment of PKR 340,000, with the remaining PKR 784,000 to be financed over 5 years at a markup rate of 10.98%. The upfront payment totals PKR 414,996 including insurance, fees, and registration. The monthly installment for the first year will be PKR 17,038 with additional insurance payments, decreasing slightly each subsequent year until only the installment remains in year 5.
Car Make Suzuki Car Model Cultus VXRi EURO II Car Price PKR 1,124,000 Down Payment Amount PKR 340,000 Equity (%) : 30.25% Finance Amount PKR 784,000 Tenure in Months 60 Today's 1 Year KIBOR (%)* 6.48% Spread Rate (%) 4.50% Mark-up Rate (%) 10.98%
UP-FRONT PAYMENT:
(a) Down Payment PKR 340,000
(b) 1st Year Insurance @ 3.40% PKR 38,216 (c) Processing Fee PKR 6,000 (d) FED on Processing Fee @ 13.00% PKR 780 (e) Cost of Car Registration Charges (Approx.) PKR 30,000 TOTAL UP-FRONT PAYABLE : PKR 414,996
REPAYMENT SCHEDULE
Monthly Monthly Advance Total Monthly
Year Installment* Insurance Installment Payment 1 PKR 17,038 PKR 2,866 PKR 19,904 2 PKR 17,038 PKR 2,707 PKR 19,745 3 PKR 17,038 PKR 2,548 PKR 19,586 4 PKR 17,038 PKR 2,389 PKR 19,427 5 PKR 17,038 PKR 0 PKR 17,038 Total PKR 1,022,294 PKR 126,113 PKR 1,148,407 *1 Year KIBOR ruling on disbursement date, to be revised on each anniversary of Finance.
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