Saturday 22 April 2017

Auto Loan Checklist For Salaried Employees In Pakistan

Do you want to buy your own car? Are you a salaried employee/Individual? Don't Have money to buy a car? if yes then this article is specially for you. Purpose of this article is to let our audience know that what are the Requirement/Checklist/Documentations of Auto Loan (Auto Finance) for salaried employee, However different banks have different policies and procedures but through this informative article regarding Car Loan will help you to understand the basic things you required before applying for Auto Loan in any bank in Pakistan, i.e (UBL, HBL, Bank Al Habib, MCB)* etc. But Keep one thing in mind that we are not forcing you to go for financing, However it is your own choice, But keep one thing in mind that through Auto Loan you have to pay interest rate which increases the total cost of car. So it is you own choice to go for financing or buy car at your own cost with full payment, Below you can the Basic Checklist/ Documents required for  Car Loan for salaried employee.

  • Two Passport Size Photographs
  • CNIC
  • Two References ( Must be of same City )
  • Last Three Months Salary Slips (Verified)
  • Last Six Months Bank Statement Where Salary Credited
  • Employment Certificate
  • Last Month Utility Bills 
  • Last but not least Debt to Income Ratio, In which you have to take care that monthly installment of your car should not be greater then you 50% of Net Salary ( Take Home )

If you want add something in this article regarding the same topic, Please let us Know.

*Keep thing in mind that Policies of bank changes time by time, if you want to get updated policy regarding documentation you need to visit the website of that bank, or visit you nearest branch


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