Selling old cars for new ones with the difference paid
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The third question of Fatwa No. ( 2171 )
Q3: Is it permissible to exchange my old car for a new one, and pay the difference between the two cars to the owner of the new car? What happens in this country is that the owner of the old car goes to the car company and informs them of his desire. They then appraise the value of each of the two cars, and he pays the difference and takes the new one in place of his car, knowing that they do not buy the old one unless he buys the new one from them. Is this sale valid or not?
A3: If the situation is as you described, it is permissible for you to hand over your old car to the company, for example, to take a new car in exchange for it and pay the difference between the two values. This is not a case of two sales in one sale, but rather it is the sale of one car for another with a difference in their values, and there is no
riba (usury or interest) in this; because cars are not among the types subject to riba.
Q3: Is it permissible to exchange my old car for a new one, and pay the difference between the two cars to the owner of the new car? What happens in this country is that the owner of the old car goes to the car company and informs them of his desire. They then appraise the value of each of the two cars, and he pays the difference and takes the new one in place of his car, knowing that they do not buy the old one unless he buys the new one from them. Is this sale valid or not?
A3: If the situation is as you described, it is permissible for you to hand over your old car to the company, for example, to take a new car in exchange for it and pay the difference between the two values. This is not a case of two sales in one sale, but rather it is the sale of one car for another with a difference in their values, and there is no
riba (usury or interest) in this; because cars are not among the types subject to riba.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.