Meezan Bank, Pak Suzuki to offer financing benefits for middle-income customers

KARACHI: Meezan Bank and Pak Suzuki Motor Company Limited signed a memorandum of understanding to facilitate middle income and young customers in auto financing, a statement said on Tuesday.

Group head of consumer finance at Meezan bank, Arshad Majeed and executive officer of marketing and sales at Pak Suzuki, Aamir Shaffi signed the MoU to offer attractive financing benefits in availing Car Ijarah facility through Pak Suzuki One Window Solution, it added.

“Meezan Bank has always strived to offer affordable and accessible Shariah-compliant car financing solutions to its customers. Through the Residual Value Module, we are making the process of car purchasing much easier for individuals and families, especially in the current scenario where prices of vehicles and interest rates are an increasing trend,” Arshad Majeed said.

“We are pleased to partner with Pak Suzuki Motor Company Limited for offering preferred vehicle delivery that will boost the vehicle buying experience of our customers,” he added.

Aamir Shaffi of Pak Suzuki said, “Residual Value Module will attract young generation and create customer trend to change the car every 2-3 years through RV financing, in which the customer can defer/postpone up to 50 per cent of value amount of vehicle at end of financing period and enjoy the benefit of reduced rentals.”

“The Scheme will enhance our brand image and help retain financing customers for life at Pak Suzuki Motor Company dealerships by providing them right market value with buyback guarantee up to three years based on car condition criteria,” he added.

Meezan Bank will facilitate its customers with additional residual value features which includes affordable monthly rentals that will be lower than regular installments.

The customers will be able to opt for a new vehicle option every three years through this scheme on selected variants. In addition customers can also avail preferred delivery of Suzuki vehicles including Suzuki Alto (VX and VXR), Suzuki Wagon R (VXR, VXL and AGS) and Suzuki Cultus (VXL and AGS) with free registration (excluding taxes) and buyback guarantee of up to three years as well as after-sales support services across Pakistan.

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