Car Loan Comparison Pakistan
Compare car loan offers from up to 3 banks side by side. Enter the loan details for each bank and see the monthly EMI, total markup and total cost instantly — the cheapest total cost is highlighted.
Side-by-side comparison
| Item | Bank 1 | Bank 2 | Bank 3 |
|---|
The bank card with the Lowest total cost badge is the cheapest offer overall. Compare the EMI too — a lower total cost can still mean a higher monthly instalment.
How to use
- Choose whether to compare 2 or 3 banks.
- Type each bank name and enter its car price, down payment, annual markup rate and tenure in months.
- All results update instantly as you type — monthly EMI, total markup, total cost and the cheapest offer.
- Check the comparison table for a clean side-by-side view before visiting the branch.
How the EMI is calculated
Loan amount = car price minus down payment. Monthly rate = annual markup rate / 12 / 100. EMI = P x r x (1+r)n / ((1+r)n - 1), where P is the loan amount and n is the tenure in months. Total cost = EMI x n. Total markup = total cost - loan amount. Effective markup = total markup / loan amount x 100. Effective markup shows the real cost of the loan as one simple percentage.
Frequently asked questions
Banks in Pakistan use the amortization formula EMI = P x r x (1+r)^n / ((1+r)^n - 1), where P is the loan amount, r is the monthly markup rate (annual rate divided by 12) and n is the number of months. This tool applies the same formula so the monthly instalment matches what the bank quotes.
Car loan markup rates in Pakistan usually move with the State Bank of Pakistan policy rate and commonly sit between 18% and 25% per year. Always confirm the exact current rate with the bank before applying, because rates change with policy announcements.
Yes. A bigger down payment reduces the financed loan amount, which directly reduces the monthly EMI and the total markup you pay. Most banks ask for a down payment of 20% to 30% of the car price.
A longer tenure lowers the monthly EMI but increases the total markup you pay over the life of the loan. A shorter tenure raises the EMI but saves total markup. Use this comparison tool to see both effects side by side.