|Minimum Down Payment||15% of Car Value (depending upon financing amount).|
|Financing Amount & Tenure||Up to Rs. 3,500,000 for 5 years.|
|Pricing||KIBOR + 3.5% (1 Year Offer).|
|Debt Burden||Repayment installment up to 50% of net income after accounting for other debt payments.|
New Car Financing – Al Baraka Auto Ijarah
Al Baraka Auto Ijarah is becoming a popular mode of replacement of a used vehicle for a new one. Every individual aspires to purchase a new car after a certain time period. With the rising cost of new automobiles, Al Baraka Auto Ijarah allows its consumers to purchase a new vehicle in the market, and repay the cost over tenure of 5 years. This enables an individual to buy a new car with Al Baraka Auto Ijarah with ease and with simple monthly repayment options.
Availing a new car through Al Baraka Auto Ijarah has its benefits. The market value of the new car does not depreciate as greatly during the tenure of repayment. Maintenance costs are lower, thereby enabling ease of monthly payments under Al Baraka Auto Ijarah for the vehicle. Lastly Al Baraka Auto Ijarah allows a consumer to change his vehicle more frequently during his course of employment.