Karachi: Soneri Bank and MG Motors Pakistan have launched a joint venture offering the nation's most competitive auto financing rates. The program offers financing starting at 1 Year KIBOR + 2%, setting a new industry standard for vehicle affordability.

The partnership provides both conventional and Islamic financing options. Borrowers can also take advantage of a 1.5% insurance rate with a tracker, along with complete waivers on processing fees, early settlement penalties, and balloon payment penalties.

This offer applies to select MG models, including the HS and the HS Plug-in Hybrid Electric Vehicle (PHEV). These vehicles offer a blend of contemporary styling, cutting-edge innovations, and environmentally conscious transportation.

Syed Asif Ahmed, General Manager, Marketing Division of MG Motors Pakistan, stated that this collaboration advances their goal of making premium vehicles attainable for a wider range of Pakistani consumers. He emphasized the combination of MG's advanced technology and environmentally friendly vehicles with industry-leading low financing rates available through Shariah-compliant methods.