Honda City Latest Price & Installment Plan Revealed
Honda City holds a strong position in the Pakistani auto market as it is one of the favorite vehicles of buyers due to its comfortable drive and excellent performance.
The new generation of Honda City has a beautiful exterior design. It is provided with interesting features like push-button start, and keyless entry.
It has automatic temperature control, modern LED headlights, taillights, and a state-of-the-art multimedia system.
It is equipped with a 1.5-liter i-VTEC engine that provides power and fuel efficiency, suitable for both urban commuting and long journeys.
The Honda City also has airbags, an anti-lock braking system (ABS), and vehicle stability assist (VSA), ensuring safe road driving.
Honda City 1.5LS CVT Price
The factory price of the Honda City 1.5LS CVT in Pakistan is Rs. 5,439,000 without any change till November 2024.
5-Year Installment Plan for Honda City 1.5 CVT
Meezan Bank offers a convenient five-year installment plan for Honda City 1.5 CVT in Pakistan. The plan includes a 30% security deposit, 5% residual value, and processing fee.
The buyer will have to pay Rs. 1,634,800 as an upfront payment while the monthly installment will be Rs. 110,442 for 60 months.
Types Of Installment Plans:
- Retail Installment Plans
In most cases, retailers give consumer credit to those who wish to make purchases such as electronics, furniture, and other durable goods. Such Plans Are Generally Of A Short duration and Can Or Can’t Accompany Interest Rates.
Example: A Store Might Operate On A “Let’s Go, You Pay” System In Which A Customer Buys An Item That Costs $500 And Then Pays $100 Monthly For Five Months.
- Car Loans
In the process of buying a car, most customers prefer to pay for the car through an installment plan of payment. The loan amount is also repaid throughout the years via equal monthly installments. Car finance is another type of credit where the car being bought serves as a security to the credit, this means that if the buyer defaults the lender can take the car.
Example: A Buyer Buys A Car And Fines For The Car Costing $30000 With A 5-Year Installment Payments Of $600 Where The Amount Paid Goes To The Principal And Interests.
- Mortgages
A Mortgage Is A Long Term Financial Agreement In Which A Client Is Offered Credit To Fund An Acquisition Of A Property. The Buyer Completes A Monthly Payment Plan with a Long-Term Structure And Time Frame Of 15, 20, And 30-year terms with Interest. Most mortgages can be taken at fixed or variable rates of interest.
Example: A Buyer Borrows $250,000 To Purchase A House And In Return, He Agrees To Make Monthly Payments Of $1,500 For 30 Years With A Stipulated Rate Of Interest.
- Student Loans
Another type of installment plan is Student Loans where the borrower is supposed to pay back the borrowed amount of money after finishing his/ her course’. This Means That If For Some Reason the Student Is In A Position Where They Cannot Afford To Pay For Services Rendered Right Now, Such Payments Can Be Done Once The Student Is Employed.
Example: A Student Takes A Loan Of $ 40,000 For His/Her Education And In Employment Terms, He/She is Responsible for paying $ 500 Monthly Beginning With The Sixth Month From The Time Of Graduation.
