Just got some updates from the bank that I lease my car from i.e. Faysal Bank.
The current rate for leasing cars is a whopping TWENTY SEVEN percent. Yes, 27%! I personally find it unbelievable and when I showed my surprise, the gentleman from Faysal Bank assured me that this is very competitive and this rate includes the insurance.
“Many banks will not tell you about the insurance rate. Our financing is calculated at about 21% if we do not tell you the insurance. But we do tell you the insurance, to remove any misunderstandings in the future”
That is pretty decent of them, no doubt. But 27%, that is just way too expensive to lease out a car. But these are the time when a 1300 CC costs 13 lacs, who am I to blow against the wind. :/
More information on Car leasing in Pakistan at our Car Leasing page (link on the top of the page as well).
P.S. If you, the reader, works at a bank and would like to give me information regarding your bank’s current rates and addresses etc, do so please in the comments section.
