Purchasing a vehicle from a pawn shop
Question
Assalamualikum. Is it permissble to purchase a vehicle from a pawn shop?
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykumwa-rahmatullāhiwa-barakātuh.
A pawnshop is a business that offers secured loans to people with personal items used as collateral. The items that are pawned to the pawnshop are called Rahn (collateral.)
If the pawner fails to pay back the loan amount, the pawn shop takes ownership of the collateral and sells it in lieu of the loan.
Therefore, it is permissible for you to purchase the vehicle from the pawnshop as the pawnshop is the owner of the vehicle.
And Allah Ta’āla Knows Best
Ikraam Elias Gangat
Student - Darul Iftaa
Zambia
Checked and Approved by,
Mufti Ebrahim Desai.
- Answered by
- Ikraam Elias Gangat
- Checked & approved by
- Mufti Ebrahim Desai
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