Islamic Vehicle Finance will ensure that you get the vehicle you want, whether it is for business or personal use, in a fully Shari'ah-compliant manner.

how does it work
How does it work?

Using the concept of Ijaarah, which is similar to leasing, you can enjoy access to a vehicle for a fixed period and price. This approach is Shari'ah-compliant and allows you to benefit from the unique advantages as well, such as 100% financing and tax benefits.

  • Variable and fixed rental fees for the duration of the lease.
  • Flexible payment options to reduce your monthly rental fee.
  • At the end of the lease, you can choose to purchase the vehicle at an agreed price, nominate a third party to buy it or continue to use it at a reduced or null rental fee.
  • We offer insurance cover for your commercial assets and vehicles.
  • You have access to a range of free services (mechanical and electrical assistance), home and roadside assistance (for breakdowns) and great deals on products and travel services.
Benefits of Shari’ah-compliant vehicle finance
What you need to know
  • Shari'ah Law governs the manner in which Muslim people conduct their lives, including banking. Islamic Banking is deduced from the Shari'ah Law; hence it differs from conventional banking and forbids the payment or earning of interest, among other requirements.
  • For more information related to Islamic banking products please visit our homepage.
How to apply
  • Find the vehicle you want.
  • Agree on an interest rate, monthly repayment amount and repayment period. 
  • Once all the documents have been signed and handed in, you can get your vehicle.
What you need to bring

Absa clients:

  • Proof of Identity (South African  ID or identity card)
  • Proof of address (not older than 3 months)
  • A valid salary slip (latest)

Foreign residents and non-ABSA clients:

  • Work permit
  • Passport
  • Letter of appointment or a payslip
  • International driver’s license
  • Last 3 months’ bank statements (non-ABSA clients)
Need more help?

Need more help?

Let one of our consultants help you get the best car loan for your needs.

Call us on:

0860 669 669

Call Islamic Car Finance on:

0860 000 786

Visit your nearest branch