Halal Vehicle Financing
Join the UIF Corporation community and harness the simplicity of our Islamic Vehicle Financing program. Whether it’s a brand new car or a pre-loved SUV, we can help you navigate the financing road with ease.
Start your inquiry by filling out the form below today and gear up for a smooth journey to vehicle ownership!
1.To finance a new or used vehicle through UIF Corporation, you must live in and register the purchased vehicle in Michigan, Ohio or Illinois. You must be 18 years of age or older. All applications are subject to financing approval by UIF Corporation. Additional terms and conditions apply, such as vehicle make, age and mileage.
2. APR (Annual Percentage Rate) is the cost of financing, expressed as a yearly rate. APRs are based on your credit score, the financing amount as compared to the value of the vehicle, the length/term of the financing, and the age of the vehicle and are subject to change at any time. Your APR will include a processing fee of $349, as part of the calculation of the cost of the financing, which will make the APR higher than the profit rate when you finance.
3. When you apply for financing, your application is subject to credit approval by UIF Corporation using your full credit history, related score, income and other factors to evaluate your request and ability to repay. You must authorize UIF Corporation to obtain a credit report and to validate the information on the application. You also need to agree to provide additional personal and/or business information, if requested, such as tax returns and financial statements and certify that all information submitted in the application is true and correct.
4. Monthly payment amounts vary by term and rate. For a new 2023 or 2024 vehicle, applicant qualifying credit score of 720+, up to 95% LTV, and a financing amount of $45,000 (plus $349 upfront processing fee), the minimum payment amount is $899.36 over a 60-month term at 7.718% APR (7.39% profit rate). The financing calculation assumes 30 days in a month and a first payment scheduled 30 days after the start date to calculate a monthly payment. UIF Corporation does not guarantee your ability to receive these terms.
5. Per IL Regulatory Code 815 ILCS 123: Loans cannot exceed a 36% annual percentage rate as calculated under the Illinois Predatory Loan Prevention Act (PLPA APR). Any loan with a PLPA APR over 36% is null and void, such that no person or entity shall have any right to collect, attempt to collect, receive, or retain any principal, fee, interest, or charges related to the loan. The annual percentage rate disclosed in any loan contract may be lower than the PLPA APR.
