IslamQA

Purchasing already financed car from others

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
One of my known persons has purchased a car through bank finance at a fixed rate of interest. Now he wants to sell the car. I would like to purchase this car. Can he transfer this loan to my name so that I can pay the amount to the bank in EMI’s . Ex- My friend fixed car price for 5 lakh, 4 lakh was already financed by bank to him. I will pay 1 lakh to him and he transfers his loan of 4 lakh to my name. Is it lawful for me?

بسم الله الرحمن الرحيم

(Fatwa: 1215/1001/H=10/1434)

As the dealing was haram for the friend, in the same way it shall be haram for you.

Allah knows Best!

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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