Want the pleasure of driving a new car but without the expense of buying outright? Leasing brings you the 'new car' experience for an agreed length of time - typically two, three or four years - before you simply hand the car back. The car leasing process is simple. You choose your car, figure out your annual mileage, and finalise the length of the contract and the size of the initial payment. Then your dream vehicle is simply delivered to your day. When the lease period ends, you're free to choose another lease option or simply walk away.
Brand new cars benefit from all the latest technological advances, whether that's safety features, electrification, driver assistant packages, clean and efficient engines, or modern styling. You also avoid the hidden pitfalls and high servicing costs you often get with older cars. Fixed monthly payments means you can budget accordingly, giving you peace of mind, and there's no hard sell at the end of the contract. And remember, new cars only require an MOT upon three years of its initial registration.
You'll pay for your lease car in monthly instalments. And one thing to bear in mind is that you'll be asked to make an 'initial payment' - which is equivalent to several monthly payments - before paying monthly after that point. Your monthly payments will vary according to how many miles you do, and the length of your contract period. And for many of the vehicles available through Halal Car Leasing you can also alter the size of the 'initial payment' according to your budget.
The car leasing process is very simple. Head to our website, choose your car, select the appropriate annual mileage, choose the contract length, then just click the 'enquire' button and one of our expert leasing consultants will be in touch. You then order your car, sign your documents, wait for it to be delivered and then start driving! It couldn't be easier.
Under Islamic law, trade is permissible, but interest is not allowed.
However, this does not mean contract hire is out of the question. Far from it.
Leasing (‘ijara’) is perfectly permissible -
Islamic law allows for asset-based financing and leasing ‘ijara’ is perfectly permissible.
Islamic law is perfectly compatible with car leasing because there is an underlying asset at the heart of the transaction. It also works because all of the information about who owns the vehicle, how much it will cost to lease and what it will be worth at the end of the lease term are all set out in advance.
As such, leasing is a form of vehicle funding very much in step with Islamic principles because all parties are treated equally and with respect.