Looking to buy a new or used car in Pakistan? Our Car Loan Calculator helps you estimate your monthly installments (EMI) and total payment before applying for financing. Whether you are interested in Islamic car financing (based on profit rate) or Conventional car loans (based on interest rate), this tool gives you a clear picture of your repayment schedule.
This calculator works with major banks in Pakistan including HBL, Meezan Bank, Bank Alfalah, UBL, Faysal Bank, and others. Simply enter the car price, down payment, loan tenure, and interest/profit rate to get your installment plan instantly.
Car Loan Calculator
How the Car Loan Calculator Works
The calculator uses two methods based on your selected loan type:
- Conventional Loan: Calculates monthly installments using the EMI formula, factoring in the loan amount, tenure, and annual interest rate.
- Islamic Financing: Estimates monthly payments using a profit rate applied on the financing amount, giving you a Shariah-compliant repayment schedule.
It also generates an amortization table, showing how much of each installment goes toward principal and interest/profit, plus your remaining balance.
Benefits of Using a Car Loan Calculator
- ✅ Compare Islamic vs Conventional financing instantly
- ✅ Plan your monthly budget before applying for a loan
- ✅ Understand how much interest or profit you will pay over time
- ✅ Export your repayment schedule to Excel or PDF for record-keeping
Popular Banks Offering Car Loans in Pakistan
Some of the leading banks offering car financing are:
- Meezan Bank Car Ijarah (Islamic Financing)
- Bank Alfalah Car Loan (Read More…)
- HBL Car Loan
- UBL Car Loan
- Faysal Bank Car Finance
- Dubai Islamic Bank Auto Finance
Each bank may have different down payment requirements, tenure options, and profit/interest rates. Use our calculator to compare them easily.
Best Car Financing Banks and Rates in Pakistan (2025)
| Bank | Financing Type | Profit / Interest Rate (Approx.) | Tenure | Down Payment |
|---|---|---|---|---|
| Meezan Bank | Islamic (Car Ijarah) | 12% – 15% Profit Rate | 1 – 7 Years | 15% – 30% |
| Bank Alfalah | Conventional / Islamic | 13% – 16% | 1 – 5 Years | 20% – 30% |
| HBL (Habib Bank) | Conventional | 12.5% – 15.5% | 1 – 7 Years | 15% – 30% |
| UBL (United Bank) | Conventional | 13% – 16% | 1 – 5 Years | 20% – 30% |
| Faysal Bank | Islamic / Conventional | 12% – 15% | 1 – 5 Years | 15% – 30% |
FAQs – Car Loan Calculator Pakistan
1. What is the minimum down payment for a car loan in Pakistan?
Most banks require at least 15%–30% of the car price as a down payment.
2. What is the maximum tenure for car financing?
Typically, up to 7 years for new cars and 5 years for used cars.
3. Is Islamic car financing interest-free?
Yes, Islamic financing is structured differently. Instead of charging interest, the bank adds a fixed profit rate under Murabaha or Ijarah contracts.
4. How do I calculate installments for a PKR 2,000,000 car?
Enter the car price, down payment, interest/profit rate, and tenure into our calculator. The result will show your monthly installment plan.