FAQ’s – Bank Alfalah Fleet Finance

Any Type of business working as Sole Proprietorship, Partnership, Private Limited, Public Limited and different business entities are eligible for AFF.
The entity may have Cars, Jeeps, Vans, Pickups, Heavy Trucks, Buses etc. may be borrowed under AFF.
Yes, BAFL have added this special feature to finance the customized Body Fabrication attached to a commercial vehicle.

• There would be 10 % minimum down payment only for locally manufactured brand new cars, Suzuki, Toyota, Honda and FAW
• For all other vehicles, local / imported for Brand New / Used / Reconditioned, a 20 % Down payment is applicable based on the Market Value
• The minimum down payment of 20% for Body / Fabrication is acceptable based on the forced sale value determined by PBA approved evaluator

You may enjoy the tenure of 1 to 5 years as suitable to your business cash flows.
The finance amount may range from Rs. 300,000/- to Rs. 500 million.
The vehicle taken under AFF will itself serve as the Collateral. No other security is required to avail AFF.
You must have at least Three (3) years of experience in the same business line.
Mark-up is linked with 1 year KIBOR. Yes, there are two options available for premature termination of the facility after the 1 year of the facility.

• Partial Payment (Balloon Payment), You can pay your facility partially by paying up to 40 % of the Outstanding Principal
• Full and final repayment for total Principal Amount may also be allowed. On both option types, Termination Charges would be applicable as per policy

To make your monthly instalments as per your available cash flows you have ‘Bullet Payment’ option. Under this option, you can postpone your principal payment till the end of Financing Tenure.