Purchasing a car is a significant financial decision, and for those seeking Shariah-compliant financing options in Pakistan, Meezan Bank offers competitive Islamic auto financing solutions. To help potential buyers make informed decisions, we have developed a comprehensive Meezan Car Loan Calculator that accurately estimates monthly payments for both new and used vehicles.

Why Use the Meezan Car Loan Calculator?

Our calculator provides several key benefits:

1. Shariah-Compliant Calculations – Uses Islamic financing principles without interest (Riba)

2. Dual Functionality – Works for both new and used cars with depreciation calculations

3. Complete Transparency – Shows loan amount, monthly payments, total profit, and payable amount

4. Vendor-Specific Models – Includes all major car brands and their popular models

5. Mobile-Friendly Design – Accessible on all devices

Key Features of the Calculator

1. New & Used Car Options

The calculator accommodates both new and pre-owned vehicles, automatically adjusting calculations for used cars with a 15% annual depreciation rate.

2. Comprehensive Brand Selection

Choose from all major car manufacturers in Pakistan:

• Toyota (Corolla, Yaris, Fortuner, etc.)

• Honda (City, Civic, BR-V, etc.)

• Suzuki (Mehran, Cultus, Swift, etc.)

• Hyundai, Kia, Nissan, MG, and luxury brands

3. Detailed Financial Breakdown

Get a complete payment summary including:

• Loan Amount (After deducting your deposit)

• Monthly Payment estimate

• Total Profit payable to the bank

• Total Payable Amount over the loan tenure

• Current Value Estimate (For used cars)

4. Flexible Loan Terms

Select repayment periods from 1 to 7 years with adjustable profit rates (default 12.5%).

How to Use the Calculator

1. Select Car Type – Choose between new or used

2. Pick Manufacturer & Model – All popular Pakistani models included

3. Enter Vehicle Details – Price, manufacturing year (for used cars), and deposit amount

4. Adjust Loan Terms – Set your preferred tenure and profit rate

5. View Results – Get instant calculations of your monthly obligations

Understanding Islamic Car Financing

Unlike conventional loans, Meezan Banks Diminishing Musharakah model means:

• The bank and customer jointly purchase the vehicle

• You gradually buy the bank’s share through monthly payments

• The profit rate remains fixed (not compounded)

• No hidden charges or interest-based calculations

Benefits of Planning with Our Calculator

• Budget Effectively – Know exactly what you can afford before approaching the bank

• Compare Options – Test different down payments and tenures

• Negotiate Better – Understand the financing structure before dealer discussions

• Shariah Assurance – Verified calculations compliant with Islamic principles

Try It Now

Embed this calculator on your website or use it directly to plan your next vehicle purchase through Meezan Bank’s Islamic financing. With complete transparency and accurate projections, you can drive your dream car while staying true to your financial principles.

Note: Calculator results are estimates. Final terms may vary based on bank approval and individual circumstances.

Pro Tip: For the lowest total payable amount, consider larger down payments and shorter tenures where possible. Even a 10% larger deposit can significantly reduce your total financing cost!

Check this calculator also: Ubl car loan calculator