Can I Sell My Car To Someone Paying It Off By A Bank Loan
Channel: Faith IQ
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Shaykh Abu Eesa explains
Can I sell my car to someone who's paying by a bank loan.
So, of course, when it comes to the idea of a bank loan, we're talking about a conventional bank. So we're assuming that this person has taken out a short short term or a long term loan that has an APR, or an interest rate. So they're going to be basically paying more back to the bank than what they borrowed, which is the exact definition of river river is any increase on a loan, okay, any increase that or any benefit that is received to the lender, that that they receive when they give out a loan, so a bank, of course, it deals in interest, and conventional banks are, you know, that we've learned to our expense over the last 10 years with all of the crises that we've been through,
that these banks are causing incredible difficulties and problems around the world with the concept of capitalism and interest. But anyway, this is not a discussion about that. The Islamic ruling on you, the third party, selling a car, hello, sell Hello, hello.
approach to other people for them to buy it, okay, nothing wrong with your side. But then a person comes to you, obviously, you do not have to ask the person where they got the money from. However, if you suspect or you have reason to believe, or they tell you, then is it permissible to take that
we're going to separate between a number of issues here, there are technical legal matters, and there are an Islamic, there's an Islamic and ethical kind of approach to this as well, ethically, we should not be supporting any banks, there's no doubt about that conventional banks should not be supported, we should be encouraging people not to get into debt, let alone Yeah, and not even borrow money. Because the idea is, is that
if we can encourage people to as mums used to say go to the length of each other, right? Just look to what you can afford, and not have to get involved in credit and debt. And I'm talking interest free. And this is a good thing. However, it is permissible to borrow money, and it's permissible to lend money. And so therefore, if someone really wants something, and they're happy to give it and they're confident that they can repay that person, then Okay, that's allowed. But of course, a conventional bank, which is forcing them to pay interest, that's something which is impermissible for a person to take out to enact to do the contract. And there are a number of levels of sin that
are involved with respect to the river, I mean, there's no doubt that is not the same to receive interest, ie the sin of the bank, like and that can't be held as equal to the person who pays the interest. Okay. It's haram to do that have no doubt about it, you are declaring war against Allah and His Messenger involved in this horrible dirty game. But to pay the interest being a major sin is not as sinful as receiving, which is not as sinful as for example, agreeing to pay interest, but not even ending up paying it. In the end, you know, the concept behind credit cards. So person says, Yeah, I will pay interest, but then they try and get rid of it. And maybe in a loan as well, it
tried to pay off very quickly and avoid paying the interest but at least they still agreed to do something wrong. So all these three acts are Haram, but they're not of the same level. ethically, we don't want to allow a new transaction to occur for the bank, we don't want to encourage this kind of behavior. So does it stink? Yani, you know, to be involved in this ethically? Is it wrong? Of course it is. It's a black, there's no doubt about it. But is it permissible for you technically to receive that money? The answer is actually Yes. Legally, the money itself. Okay. So if I, if I sold my car for 5000 pounds, the 5000 pounds a person gives me that's pure and clean money. What was haram was
the transaction, the manner that it was received? The money itself is clean, if you like, Okay. And as I said, this is like sounds like a kind of way getting around that there's no doubt that it is there's no doubt that it stinks ethically. But is it legally correct and permissible for you to take that money, per se? Yes. Should we encourage that person to take their bank loan? Of course we shouldn't. Is it allowed for that person to take that bank loan? No, it's not of course you shouldn't. But this money itself, is it pure and clean? It is it is permissible to receive that money for your car, whether it's from a Muslim or non Muslim, that's my position, and not us
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