Why Get Murabaha Car Financing Through Manzil?
- Manzil and it’s team of Islamic Finance experts have structured and reviewed the full process and documentation to ensure its compliance within Shariah and AAOIFI guidelines
- You can be approved for up to $20,000 for new or used vehicle purchases, including private auto sales
- Financing can be arranged towards any vehicle – sedans, SUVs, trucks and more
- Benefit from affordable payments that fit your needs and budget, and of course, are Halal
- Pay off your Murabaha contract anytime without penalty
What Makes Dealing with a Conventional Financier Halal?
The transaction you are entering into has no money involved in fact it is a trade based transaction. You are buying the car directly from the Financial Institution partner in a true Murabaha fashion. The money they make is their profit on selling you the car.
This is a trade based transaction
There is no lending of money involved in this transaction. You are simply purchasing a car and making monthly instalments
You are buying a car directly in a true Murabaha fashion
After selecting the car you want to buy. The financier will purchase it on your behalf and they will then re-sell it to you
The money the financier makes is their profit on selling you a car
Because they own the car, they can then sell it to you for a mutually agreed upon profit
Steps to Acquire a Car through Murabaha Financing
Follow the 5 simple steps below to own your Halal vehicle.
Submit your pre-application form online.
Submit your pre-application form online and agree upon the Murabaha car repayment terms
Our Financial Partner Reviews your Application for Pre-Approval
Submit your pre-application form online and agree upon the Murabaha Car repayment terms
Choose your Car
Select the Car you would like to purchase and enter into a Murabaha agreement with our partner financial institution
Our Financial Partner Purchases The Car and Sells It Back to You
Plus the agreed upon profit – taking into account your personal credit risk profile, the value of the car and length of repayment term
Your car is registered in Your Name
And the sale is recorded in a Murabaha car financing contractGet on our Waitlist
Halal Wheels FAQs
Please take the time to go through our frequently asked questions below.