TRADING A VEHICLE
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