Karachi: Bank AL Habib, in partnership with MG JW Automobile Pakistan Private Limited, has launched a new promotional campaign offering discounted financing rates and additional benefits for customers aiming to purchase MG vehicles. The campaign, which runs until September 30, 2024, includes reduced markup rates, free registration, and other incentives designed to make car ownership more accessible.

According to Bank Al Habib Limited announcement issued on 13 August 2024, the financing arrangement allows customers to benefit from an interest rate of 1 Year KIBOR + 2.50% for up to three years. Additional perks include the absorption of the first year’s insurance or takaful premium by MG JW Automobile Pakistan Private Limited for selected models, such as the MG HS Essence. Customers are also promised priority delivery and a discount on insurance/takaful.

The offer covers several MG models, with specific benefits tailored to each. For example, the MG HS Essence comes with free registration capped at Rs. 175,000 and priority delivery, while the MG HS Excite includes free 100 liters of fuel upon purchase, with the vehicle delivered fully refueled and the balance paid at the prevailing rate.

The campaign stipulates that the prevailing pricing at the time of delivery will apply, ensuring early delivery is prioritized for all customers. The terms also confirm that all other product parameters, including those applicable to the Islamic variant of the financing, will remain unchanged.