United Bank Limited (UBL) has rolled out a new financing option through its UBL Drive program, allowing buyers to drive home a brand-new Honda City with monthly payments as low as Rs. 68,629. This plan uses a residual value feature to keep installments affordable.
The scheme applies to several Honda City models. It requires a lower initial payment, followed by reduced monthly amounts thanks to a 50% residual value setup. At the end of the term, buyers can pay the remaining amount, refinance it, or return the car.
Monthly Payment Breakdown
Here are the details for key variants under the residual value option (at 14.5% rate):
- Honda City 1.2L M/T: Vehicle price Rs. 4,649,000 | Down payment Rs. 1,673,640 | Monthly installment Rs. 69,184
- Honda City 1.2L CVT: Vehicle price Rs. 4,689,000 | Down payment Rs. 1,734,930 | Monthly installment Rs. 68,629
- Honda City 1.5L CVT: Vehicle price Rs. 5,439,000 | Down payment Rs. 2,447,550 | Monthly installment Rs. 69,558
- Honda City 1.5L Aspire M/T: Vehicle price Rs. 5,649,000 | Down payment Rs. 2,655,030 | Monthly installment Rs. 69,616
- Honda City 1.5L Aspire CVT: Vehicle price around Rs. 5,849,000 | Similar structure with low monthly payments
Standard fixed-rate options without residual value start higher, around Rs. 102,000 monthly for most models.
The bank highlights quick approvals and limited paperwork. Loan terms run from one to three years, with the residual option cutting monthly costs significantly.
Also Read: Honda Civic Gets Special Starting Prices in Pakistan
How to Apply
Customers can start the process online on the UBL Drive website. They need to submit basic details about income, job, CNIC, and recent bank statements.
A UBL team member then reaches out to guide through the rest, check eligibility, and settle the final terms.
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