Toyota Corolla Price in Pakistan and Best Car Loan Options

The Toyota Corolla remains one of the most reliable and popular sedans in Pakistan. Known for its durability, resale value, and smooth driving experience, the Corolla continues to be a top choice for buyers. However, due to rising car prices, many people prefer purchasing through car financing rather than making a full cash payment. In this blog, we will cover the latest Toyota Corolla prices in Pakistan and the best car loan options available to help buyers make an informed decision.

Toyota Corolla Price in Pakistan (March 2025 Update)

As of March 2025, the Toyota Corolla is available in multiple variants with different features and price points. Here are the estimated ex-factory prices:

• Toyota Corolla Altis 1.6 Manual – PKR 6.2 million

• Toyota Corolla Altis 1.6 CVT – PKR 6.5 million

• Toyota Corolla Altis 1.8 CVT – PKR 7.0 million

• Toyota Corolla Altis Grande 1.8 CVT – PKR 7.5 million

Additional Costs to Consider

The above prices do not include the following charges:

• Registration Fees: Varies by province (PKR 80,000 – PKR 200,000)

• Insurance Costs: Mandatory for financed cars (1.5% to 2% of car price)

• Processing Fees: Charged by banks for loan applications

• Withholding Tax: Applicable for non-filers

Since car prices continue to rise due to inflation and currency fluctuations, many buyers prefer financing options to spread the cost over several years.

Best Car Loan Options for Toyota Corolla in Pakistan

Several banks and financial institutions offer car financing in Pakistan. Here are some of the best options available:

1. HBL Car Loan

• Down Payment: Minimum 20%

• Loan Tenure: 3 to 7 years

• Markup Rate: Around 18-22% annually

• Processing Fee: PKR 10,000 - PKR 25,000

• Eligibility: Minimum salary PKR 50,000 (for salaried individuals)

2. Bank Alfalah Auto Loan

• Down Payment: 20% - 50%

• Loan Tenure: Up to 7 years

• Markup Rate: 19-21% per annum

• Benefits: Competitive rates and fast approval process

3. Meezan Bank Car Ijarah (Islamic Financing)

• Shariah-Compliant Leasing Model

• Markup Rate: Varies based on tenure (typically 16-20%)

• Tenure: 3 to 5 years

• No Late Payment Penalty

4. UBL Auto Finance

• Loan Tenure: 3 to 7 years

• Markup Rate: 18-22%

• Features: Low processing fees and flexible repayment options

5. MCB Car Loan

• Markup Rate: 17-21%

• Flexible Tenure: 3 to 7 years

• Processing Time: Quick approvals for eligible applicants

Estimated Monthly Installments for Toyota Corolla (2025)

Here’s an estimate of monthly installments for a Toyota Corolla Altis 1.6 CVT (PKR 6.5 million) with a 20% down payment and an 18% interest rate:

• 3-Year Plan: PKR 190,000 - 200,000

• 5-Year Plan: PKR 135,000 - 145,000

• 7-Year Plan: PKR 110,000 - 120,000

For a Toyota Corolla Altis Grande 1.8 CVT (PKR 7.5 million):

• 3-Year Plan: PKR 220,000 - 230,000

• 5-Year Plan: PKR 155,000 - 165,000

• 7-Year Plan: PKR 125,000 - 135,000

These amounts vary based on bank policies, interest rates, and loan terms.

How to Apply for a Car Loan in Pakistan?

Step 1: Choose a Bank and Loan Plan

Compare different banks based on markup rates, processing fees, and loan tenure.

Step 2: Check Eligibility Criteria

Most banks require:

• Minimum monthly income: PKR 40,000 - 50,000 (for salaried individuals)

• Age Limit: 21 to 60 years

• Job/Business Stability: At least 1-2 years of stable income

Step 3: Submit Required Documents

Banks usually require:

• CNIC copy

• Salary slips or business income proof

• Bank statements (last 6 months)

• Down payment receipt

Step 4: Loan Approval & Car Delivery

Once approved, the bank will process the loan, and the dealership will deliver the car. The buyer will then start monthly installment payments as per the agreed plan.

Final Verdict – Should You Buy a Toyota Corolla on Installments?

Purchasing a Toyota Corolla through a car loan is a good option for those who want to spread the cost over time. However, due to high interest rates, the total amount paid over the years is significantly higher than the car’s actual price.

Key Recommendations:

• Opt for a shorter loan tenure (3-5 years) to reduce overall interest payments.

• Compare bank rates and financing options before finalizing.

• Choose a higher down payment (30% - 40%) to lower monthly installments.

If managed wisely, financing a Toyota Corolla can be a convenient way to own a car without paying the full amount upfront.