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Apni Car Financing


Introduction


With the increasing demands of everyday life, vehicle ownership has shifted from a mere luxury to a vital necessity. However, exorbitant car prices make cash purchase unaffordable. What should a person do? Just look towards Security Leasing’s Apni Car facility to provide you with the answer. Apni Car lets you drive your dream car for a financing term from 1 to 3 years, payable in monthly rentals. Plan your finances in a way that is straightforward, affordable and easy to apply for.


Eligibility


1. At least 21 years of age at the time of financing and will be less than 65 years for self-employed or 60 years for salaried before full repayment of lease facility.
2. You have employment history/work experience or business history of at least 2 years incase you are salaried, self employed or a businessperson
3. Monthly lease rental should not exceed 30% of applicant’s monthly income
4. Applicant must be a permanent resident of Karachi or Lahore.
Apni Car lets you drive your dream car for a financing term from 1 to 3 years, payable in monthly rentals. Plan your finances in a way that is straightforward, affordable and easy to apply for.


Documents Required


For Individual


1. Lease Application Form. (Duly filled and signed)
2. Copy of valid CNIC
3. Bank Statement for the last six months
4. Last month’s salary slip / salary certificate confirming salary packages, date of joining and designation of the applicant
5. Copy of paid Utility Bills
6. Visiting Card
7. 2 recent Passport Size Photographs
8. You have employment history/work experience or business history of at least 2 years incase you are salaried, self employed or a businessperson
9. Monthly lease rental should not exceed 30% of applicant’s monthly income
10. Applicant must be a permanent resident of Karachi or Lahore.
Apni Car lets you drive your dream car for a financing term from 1 to 3 years, payable in monthly rentals. Plan your finances in a way that is straightforward, affordable and easy to apply for.


For Sole Proprietorship Concerns


1. Lease Application Form. (Duly filled and signed)
2. Copy of valid CNIC of the Proprietor
3. Bank Statement for the last six months
4. Proprietorship letter / certificate from bank
5. Financial Statement of last two years
6. Last years tax assessment order
7. Visiting Card
8. Company Profile
9. 2 recent Passport Size Photographs of the proprietor.


For Partnership Concerns


1. Lease Application Form. (Duly filled and signed)
2. Copy of Computerized NIC of all Partners
3. Bank Statement for the last six months
4. Partnership Deed
5. Financial Statement of last two years
6. Last years tax assessment order
7. Company Profile


For Private Limited Companies


1. Lease Application Form. (Duly filled and signed)
2. Memorandum & Article of Association
3. Certificate of Incorporation
4. Latest Form-A & Form-29 duly certified from Registrar of Companies
5. Audited Financial Statement of last two years
6. Copy of Computerized NIC of all Directors
7. Bank Statement for the last six months
8. Last years tax assessment order
9. Company Profile


Terms & Conditions:


1. Down payment requirements:
10% for locally manufactured brand new vehicles valuing up to Rs1.0m
20% for locally manufactured brand new vehicles valuing up to Rs2.0m
30% for used/imported vehicle (not more than 5 years old) valuing up to Rs1.5m
40% for used/imported vehicle (not more than 5 years old) valuing Rs3.0m and above
2. Processing fee of Rs3,000/- for vehicles valuing upto Rs2.0m and Rs5,000/- for above valued vehicle (including non-refundable documentation charges of Rs2,000/-).
3. Takaful (insurance) Premium of first year will be payable in advance.
4. Monthly Lease Rental will be payable in advance for which Post Dated Checks are required.
5. All taxes, duties, registration/transfer costs, charges, levies applicable presently or imposed in future by SBP/GOP/ any other competent authority shall be payable by the Lessee.
6. Incase of used/imported vehicles, valuation from authorized evaluator will be carried out at lessee’s cost.
7. Once the request is approved, you need to make the following payments before disbursement:

1. Down Payment

2. First Rental

3. First Year’s Takaful (insurance) Premium

8. Disbursement will be made upon satisfactory completion of all formalities.
9. This scheme is only valid for Karachi and Lahore, the vehicle must be registered in Karachi or Lahore..


Salient Features:


1. You may choose locally manufactured brand new/used/imported (unregistered) and commercial vehicle.
2. Choose the financing period of your own choice i.e. 12 months to 36 months.
3. Minimum documentation is required as mentioned above.
4. Takaful (insurance) Premium for the 1st year is payable upfront and for the remaining period will be built into lease rentals.
5. Financing available on individual or company name.
6. Premature termination of the facility will be allowed after one year.
7. Change of asset option once in a lease period is also available with a nominal fee.








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