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Can I use loan money for a vehicle, despite haram interest? What about selling it?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
I had taken loan to buy a vehicle and paid interest on that. Now that I regret my decision because interest is haram, can I use this vehicle now for my daily activities or should I sell it. If I sell it then what should I do with the money received. Can I use it as pure money or will it be haram.

بسم الله الرحمن الرحيم

(Fatwa: 608/503/SD=6/1438)

When you have already paid the amount of the vehicle with interest then you may use the vehicle. You should do taubah due to the sin of paying interest, as well as do firm intention not to involve in interest based dealings in future. There is no need to sell the vehicle. 

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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