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TRADING A VEHICLE

Answered according to Hanafi Fiqh by DarulUloomTT.net

QUESTION

As Salaamu Alaikum,

Is it permissible to do a trade where i take my car to a dealer he value it an put the money towards a new vehicle and i pay an installment until it is paid of.

ANSWER

Wa Alaikum As Salaam,

Yes, it is permissible to do so. In reality, it is a transaction in which you are purchasing a new vehicle from him, and he takes your vehicle as a part payment towards the new vehicle and asks you to pay the remaining amount in cash-through installments.

And Allah Knows best

Mufti Waseem Khan

21/09/2018

This answer was collected from DarulUloomTT.net, which is operated under the supervision of Mufti Waseem Khan from Darul Uloom Trinidad and Tobago.

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