Shariah-Compliant Auto Financing in Burnaby

Our financing is based on authentic Islamic principles that avoid riba (interest) entirely. We use two main Shariah-compliant structures: Murabaha and Ijarah. In Murabaha, we purchase the vehicle and sell it to you at a fixed profit margin with no interest charges. In Ijarah, we own the vehicle and lease it to you with an option to purchase. Both models have been used for centuries in Islamic commerce and are approved by scholars worldwide.

What sets us apart is our comprehensive Shariah oversight. Our contracts are reviewed by qualified scholars with ijazah (certification) in Islamic jurisprudence, including experts from BC Muslim Association and Islamic Da'wah Centre. We're also certified by AMJA (Assembly of Muslim Jurists of America), which is one of the most respected Islamic finance certification bodies in North America.

Additionally, our profit margins are transparent and competitive with conventional financing, proving that ethical Islamic finance doesn't mean paying more. Every aspect of our service - from contract language to payment structures - has been designed to meet both the letter and spirit of Shariah law.

This is one of the most common questions we receive. Many people assume that Islamic financing must be more expensive because it's specialized, but this isn't true. Our profit margins are competitive with conventional interest rates, and in many cases, clients save money because we don't compound our profit the way interest compounds in conventional loans.

Here's a concrete example: On a $30,000 vehicle with conventional financing at 6% interest over 60 months, you'd pay approximately $34,800 total. With our Murabaha financing, you might pay $33,500 total - actually less! This is because our profit is fixed at the beginning and doesn't compound monthly like interest does.

Another major advantage is early payment. With conventional loans, if you pay off your vehicle early, you've often already paid most of the interest in the front-loaded payment schedule. With our halal financing, if you pay early, you're done - no penalties, no additional charges. Many of our Burnaby clients have paid off their vehicles years early, saving thousands compared to conventional financing.

While we're based in Burnaby, we proudly serve the entire Metro Vancouver region including New Westminster, Coquitlam, Port Moody, Surrey, Richmond, Vancouver, North Vancouver, West Vancouver, and all surrounding communities. We've helped families from White Rock to Whistler, and from Abbotsford to Squamish.

We maintain relationships with dealerships throughout the Lower Mainland and Fraser Valley, ensuring you can purchase from your preferred dealer regardless of location. Whether you're shopping at the dealerships on Kingsway, Marine Drive, Highway 1, or anywhere else in BC, we can facilitate your halal financing.

Our team can even assist with vehicle purchases from Vancouver Island or other parts of BC if you find the perfect vehicle there. We handle all the logistics, paperwork, and delivery arrangements to make the process seamless for you, no matter where in the province you're located.

We specialize in helping newcomers to Canada and understand the unique challenges you face. Unlike traditional lenders who rely heavily on Canadian credit scores, we take a holistic approach. We consider your employment status, income stability, professional qualifications, and even financial history from your home country.

For new immigrants, we offer special programs that recognize your potential rather than penalizing you for lack of Canadian credit history. If you're a skilled worker, healthcare professional, engineer, or in another professional field, we understand that your earning potential is strong despite being new to Canada. We also consider factors like education credentials, job offer letters, and professional certifications.

International students at SFU, BCIT, or other BC institutions can also qualify with appropriate documentation. We work with many students who need reliable transportation for co-op placements, internships, or family responsibilities. Our multilingual team speaks Arabic, Urdu, Punjabi, Farsi, and other languages, making it easier to navigate the documentation process and feel comfortable throughout your financing journey.

Absolutely! One of the major advantages of Islamic financing is complete flexibility for early payment without any penalties whatsoever. This is because our profit is fixed and agreed upon upfront - we don't lose anticipated interest income like conventional lenders do when you pay early.

If you receive a bonus, tax refund, inheritance, or any other windfall, you can apply it directly to your principal without fees or penalties. Many of our clients working in BC's tech sector, healthcare, or trades appreciate this flexibility, as they can pay down their financing quickly when they have extra funds. Some clients have paid off their vehicles years early, saving thousands in payments.

We actually encourage early payment when possible, as it frees you from debt obligations - a principle strongly encouraged in Islam. This is completely opposite to conventional loans, where early payment penalties can be thousands of dollars because banks lose the interest they were expecting to collect over the full term.

Our standard approval process takes 24-48 hours from the time we receive your complete application with all required documents. This includes our Shariah compliance review, credit evaluation, and verification process. During this time, our team thoroughly reviews your application to ensure we can offer you the best possible terms while maintaining strict halal standards.

For urgent situations - such as private sales requiring quick action or end-of-month dealership specials - we offer expedited processing that can provide preliminary approval within hours. We understand that timing can be crucial when you've found the perfect vehicle at a great price.

The complete process from application to driving your new vehicle typically takes 3-7 business days. This includes approval, vehicle selection, dealership negotiation, and final paperwork. We handle most of the complex negotiations and paperwork, making the process smooth and stress-free for you while ensuring everything remains Shariah-compliant.

The documentation requirements are straightforward. You'll need valid government-issued ID (driver's license or passport), proof of income (recent pay stubs, employment letter, or tax returns for self-employed individuals), proof of residence in the Burnaby or Metro Vancouver area (utility bill or lease agreement), and bank statements from the last three months showing your financial stability.

For newcomers to Canada, we also accept foreign employment history, international credit reports (which we can help obtain), permanent resident or work permit documentation, and job offer letters from Canadian employers. If you're self-employed or run a business, we understand the unique nature of your income and can work with business financial statements, GST/PST returns, and tax documents.

Qualification is based on your ability to make monthly payments comfortably. We typically look for stable employment (or a firm job offer for newcomers), sufficient income to cover the monthly payment plus your other obligations, and a down payment (usually 10-20%, though we have programs with lower requirements for qualified buyers). Unlike banks, we don't have rigid minimum credit score requirements, instead evaluating your overall financial picture, stability, and commitment to meeting your obligations.