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The question

Is selling cars by installment payments, while retaining ownership until the full amount is paid, and insuring them with comprehensive insurance through insurance companies that claim to be cooperative, permissible or impermissible?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

It is not permissible to retain ownership of a vehicle that has been actually sold; rather, it is permissible to mortgage it until its price is paid.

If the insurance is commercial, then it is not permissible to engage in it or to assist the buyer with it, due to Allah's saying: ﴿And cooperate in righteousness and piety, but do not cooperate in sin and aggression. And fear Allah; indeed, Allah is severe in penalty﴾ [Al-Ma'idah: 2]. However, if it is compulsory, then it is permissible due to duress.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
149470
Imported
Translation status
Source text, unreviewed
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