Do you finance a new car purchase or convert an existing auto loan?

Applies to: United States and Canada.

Our auto service converts an existing auto loan. It does not provide a new loan to buy a car or a refinance to obtain a lower rate.

Ijara describes the conversion as a Murabaha installment-sale arrangement. Home financing uses a separate rent-to-own structure, so the home and auto explanations should not be used interchangeably.

Is my existing loan paid off or replaced?

No. Conversion retains the existing lender's loan and its financial terms. Signing Ijara conversion documents does not itself pay off that loan or replace the original lender agreement.

Before proceeding, have the conversion team explain how the Ijara agreement relates to your original contract, which obligations remain, and how payments will move between you, Ijara and the lender. Ask for the applicable documents before deciding whether the arrangement meets your needs.

What if I have not bought a car yet?

Tell the team that you are still considering a purchase. Ask them to confirm the scope of the conversion service and address your financing and Sharia questions before you enter into a new commitment.

Start with the page for your country: US auto conversion or Canada auto conversion.