CarGar by Bank of Punjab -Car Lease Application Method

CarGar by Bank of Punjab -Car Lease

CarGar is the best car leasing service that is being provided to all Pakistanis under the efficient policy of the Bank of Punjab. The policy seeks to streamline and simplify the car leasing process for individuals and businesses alike. A comfortable and reliable car is now the dream of every Pakistani which they can fulfill under the Car Gar Scheme.  Now Bank of Punjab is here to help you fulfill your dreams.

Benefits of the CarGar Scheme:

  •  Low-Interest Rate:

Under the CarGar scheme, you can get and enjoy your car at a very low-interest rate.

  • Vehicles Range:

Car Gar policy offers its customers a wide range of vehicles to choose from which they can get any vehicle from small cars to luxury sedans and SUVs. No matter what your budget is, you can lease any car from CarGar Policy.

  • Flexible Lease Policies:

The car policy provides you with flexible terms with the help of which you can easily get your desired car on a car lease. And can choose their own period.

  • Fast and Easy Approval Procedure:

In order to provide the best service to our customers, Kargar Scheme will get prompt responses and easy approval of car lease applications. And you can get your car without any delay.

  • Fair and Transparent Deals:

Transparency and fair dealing in the workplace has been improved so that its contracts are clear and comprehensive. There are no hidden charges due to which users will not face any problems in the future. You can have peace of mind after buying a car lease from Cargar.

You can also apply Kamyab Jawan Program.

CarGar by Bank of Punjab -Car Lease Application Method

CarGar Categories of the vehicles:

BOP Auto Financing provides financing for the following types of vehicles:

  • New and used vehicles that are locally manufactured or assembled in Pakistan.
  • Imported vehicles that are brand new or used or reconditioned.
  • Cars for passengers or motorcycles and commercial or small vehicles used for personal purposes will also be considered vehicles.

Target Market of CarGar Scheme:

The car leasing service will be provided only to those who are residents of Pakistan and belong to any of the categories given below.

  • Salaried Individuals (SI)
  •  Self Employed Professionals (SEP)
  •  Self Employed Businessmen (SEB)

Tenure of Car Lease scheme -CarGar

  • Minimum 1 Year 
  • Maximum 5 years

Eligibility Criteria

  1. Salaried Individuals (SI)

Employed persons aged between 21 and 60 years. If they are employed permanently, they should have at least one year of experience, if they are on contract, they should have two years of experience. Their salary account should be in the Bank of Punjab and their salary should be between 30 thousand to 40 thousand.

  1. Self Employed Professionals/ Businessmen (SEP/SEB)

People who have their own business or any personal business should be between 25 to 65 years of age. And they have been running the business for almost a year. And their monthly income should be around fifty thousand and should have an account in any bank.

Required Documents:

For Salaried Individuals (SI)

  • Copy of CNIC
  • Latest Salary Slip
  • Two photographs
  • Bank statement for the last 6 months
  • Copy of latest utility bills

For Self Employed Professionals/ Businessmen (SEP/SEB)

  • Copy of CNIC
  • Copy of latest utility bills
  • Two recent photographs
  • Last 1 year’s bank statement of the business account

Business Related Documents

  • The latest copy of utility bills
  • Last 1-year documentary evidence of business
  • Copy of partnership deed (for partnership business) 
  • Copy of professional degree (for professionals)

How to Apply for CarGar Car Lease?

An applicant for leasing a car under CarGaR Scheme can submit an application for leasing a car in the following ways:

Step1: Submit the online Application:

To avail Car Lease under the Cargar Scheme first visit the official website of the Bank of Punjab. And Fill out the CarGar Scheme Form. Provide the necessary personal and financial information to check your eligibility. The Bank of Punjab team will review your application and check your eligibility immediately and inform you about the next step.

Step2: Select the vehicle:

If your application is approved, your next option is to choose your favorite car.

Step3: Agreement and Documentation:

Once you have chosen to lease the car of your choice, the Bank of Punjab team will contact you to complete the necessary documents and lease agreement. This policy will state the terms and conditions. And you will understand clearly your responsibilities as a customer of Kargar and the benefits of this scheme.

Step4: Delivery of Vehicle:

After completing the documentation and contract process, it is time to deliver the car of your choice to you. The Cargar team will arrange and inform you about the delivery of your vehicle at the appropriate time and place. The Car Gar team will endeavor to deliver your car to you without delay.

Step5: Payments Procedure:

Your monthly amount will be determined based on the length of the vehicle lease period, the vehicle selected, and the approved terms. The CarGar team will assist you in paying the installments. Efforts will be made to make this process as smooth as possible.

Step6: Options at Lease’s End:

As soon as your car lease term is over, you will have many options available to you that you can use as per your need. Cargar’s team will guide you in using these options. You can return the car, extend the lease, you can make the best decisions for yourself.

Cargar Scheme is the most trusted scheme in Pakistan Car Leasing by the Bank of Punjab. That gives you a hassle-free and enjoyable car leasing experience. Under this scheme, you can get the vehicles of your choice on lease. We are sure that if you are looking to buy a car, you must think about the CarGar scheme.

By M Usman

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