Based on looking at the website, V12vf.co.uk appears to be a platform for vehicle finance, offering services to both car dealers and individual customers seeking car finance. It explicitly states it is a lender, not a broker, and does not arrange finance directly with customers but rather through selected car dealerships and brokers. This immediately raises a significant flag from an Islamic perspective, as conventional vehicle finance typically involves interest (riba), which is strictly prohibited in Islam. The site is powered by Secure Trust Bank, a mainstream financial institution, further indicating that their finance products are almost certainly interest-based.
Overall Review Summary:
- Website Focus: Vehicle finance for dealers and customers.
- Nature of Service: Lender, not a broker. Provides stock funding for dealers and consumer finance via dealerships/brokers.
- Ethical Compliance (Islamic): Highly Unrecommended. The core business model is based on conventional finance, which inherently involves interest (riba).
- Transparency: Decent in terms of stating their role as a lender, but lacks details on the nature of financial contracts (e.g., whether Sharia-compliant options exist, which is highly unlikely for a mainstream provider).
- User Experience: Website navigation seems straightforward, with dedicated zones for dealers and customers.
- Key Concern: The involvement of interest makes this service impermissible for a Muslim.
While V12vf.co.uk might offer a service for those operating outside Islamic financial principles, for anyone seeking to adhere to Sharia-compliant transactions, this platform is unequivocally unsuitable. Engaging in interest-based finance, even for seemingly necessary purchases like a car, carries severe spiritual and ethical consequences in Islam. It is crucial to prioritise ethical financial dealings that are free from riba, as the blessings and long-term benefits far outweigh any perceived convenience of conventional loans.
For individuals and businesses seeking vehicle solutions that align with Islamic principles, the focus must shift towards Sharia-compliant alternatives. These typically involve asset-backed financing structures such as Murabaha (cost-plus financing), Ijarah (leasing), or Musharakah Mutanaqisah (diminishing partnership), all designed to avoid interest.
Best Alternatives for Ethical Vehicle Acquisition (Sharia-Compliant Finance):
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Islamic Finance Providers (UK)
- Key Features: Specialised financial institutions offering Sharia-compliant products like Murabaha or Ijarah for vehicle purchase. They avoid interest, instead structuring transactions as sales or leases with clear profit margins.
- Average Price: Varies based on vehicle cost and financing terms, typically involves a profit rate rather than interest.
- Pros: Fully Sharia-compliant, supports ethical financial ecosystems, clear and transparent contracts.
- Cons: Fewer providers compared to conventional finance, may require more paperwork, eligibility criteria can be strict.
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- Key Features: The most straightforward and undeniably halal method. Involves saving up the full amount to purchase a vehicle outright without any debt or financing.
- Price: The full cash price of the vehicle.
- Pros: Zero debt, no interest, complete ownership from day one, simplifies financial planning, immense peace of mind.
- Cons: Requires significant discipline and patience, may mean delaying a purchase, opportunity cost of saving.
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- Key Features: While not direct vehicle finance, Takaful is the Sharia-compliant alternative to conventional car insurance, which is often a prerequisite for vehicle ownership. It operates on principles of mutual cooperation and donation, avoiding elements of uncertainty (gharar) and interest (riba).
- Average Price: Comparable to conventional insurance premiums, varies by coverage and vehicle.
- Pros: Sharia-compliant, ethical risk management, community-focused model.
- Cons: Limited providers in the UK compared to conventional insurers.
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- Key Features: Investing in Sharia-compliant ethical funds can help grow wealth to afford a vehicle purchase in the future. These funds avoid industries like alcohol, gambling, and conventional finance.
- Average Price: Investment amounts vary, subject to market fluctuations.
- Pros: Builds wealth ethically, diversifies income streams, supports responsible businesses.
- Cons: Not a direct car finance solution, market risk, requires long-term planning.
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Used Car Marketplace (Private Sellers)
- Key Features: Purchasing directly from private sellers with cash allows for avoiding dealership finance altogether. This often provides more negotiation room and a simpler transaction.
- Price: Negotiated directly with the seller.
- Pros: Can be more cost-effective, avoids interest and hidden fees from dealerships, direct interaction.
- Cons: Requires more due diligence on the buyer’s part (inspections, history checks), no consumer protection from a dealer.
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Vehicle Leasing (Ijarah-based)
- Key Features: Some Islamic finance providers offer Ijarah (leasing) contracts where the finance provider leases the vehicle to the customer for a fixed period, with ownership transferring at the end. This is distinct from conventional lease-purchase agreements.
- Average Price: Monthly lease payments, similar to conventional leasing but structured differently to be Sharia-compliant.
- Pros: Avoids interest, clear terms, can be more affordable than outright purchase for some.
- Cons: Fewer providers, may still involve a profit element though not interest, not true ownership from the outset.
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Crowdfunding for Community Projects (Non-Profit)
- Key Features: While not for individual car ownership, for community needs (e.g., a community vehicle for a mosque or charity), Sharia-compliant crowdfunding platforms can be used to raise funds. This is a communal, non-profit approach to fulfilling transport needs.
- Price: Donation-based.
- Pros: Supports community welfare, entirely free of interest, collaborative approach.
- Cons: Not suitable for individual private car ownership, focused on communal benefit.
Find detailed reviews on Trustpilot, Reddit, and BBB.org, for software products you can also check Producthunt.
IMPORTANT: We have not personally tested this company’s services. This review is based solely on information provided by the company on their website. For independent, verified user experiences, please refer to trusted sources such as Trustpilot, Reddit, and BBB.org.
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V12vf.co.uk Review & First Look
Based on an initial examination of V12vf.co.uk, it presents itself as a dedicated platform for vehicle finance in the UK. The homepage clearly states its core function: “Fuelling your finance journey.” This immediately signals its primary service as providing financial solutions for vehicle acquisition. A key piece of information highlighted is that V12 Vehicle Finance is “Powered by Secure Trust Bank,” a well-established name in the UK banking sector. This association lends a degree of credibility in the mainstream financial world but also reinforces the strong likelihood that their products are conventional, interest-based offerings.
The website differentiates itself by explicitly stating, “V12 Vehicle Finance is a lender and not a broker. We do not arrange vehicle finance directly with customers.” This means they are the principal provider of the funds, but the actual customer interaction and deal arrangement happen through selected car dealerships and brokers. This structure, while standard in conventional finance, means that individuals seeking finance will likely interact with a third party (the dealership) rather than directly with V12 Vehicle Finance for the contractual details. For a Muslim consumer, this setup requires even greater vigilance, as the underlying financial product is almost certainly laden with riba, making it impermissible. The site is cleanly laid out with clear navigation links to “Dealer Zone” and “Customer Zone,” indicating a segmented approach to its user base.
Understanding V12vf.co.uk’s Business Model
V12vf.co.uk operates on a clear and typical model for a wholesale finance provider. They fund “car dealers’ used vehicle purchases” and provide “vehicle consumer finance.” This two-pronged approach targets both sides of the used car market: enabling dealers to acquire inventory and empowering customers to purchase vehicles through those dealers. The emphasis on “stock funding and motor finance” for dealers suggests a business-to-business (B2B) focus, while the “customer zone” caters to individuals seeking finance for their purchases.
Key aspects of their model:
- Dealer Stock Funding: This helps dealerships maintain a robust inventory of used vehicles without tying up their own capital. It’s essentially a line of credit or loan for the dealer.
- Consumer Finance: This is the product offered to individuals. When a customer walks into a dealership and needs finance to buy a car, V12 Vehicle Finance is one of the potential lenders the dealer might use.
- No Direct Customer Arrangement: This is a critical distinction. Customers won’t apply directly on the V12vf.co.uk website for a car loan. Instead, the application process will happen through a dealership or a finance broker partnered with V12.
Ethical Implications for Muslims
The fundamental issue with V12vf.co.uk, from an Islamic perspective, lies in its reliance on conventional finance structures. As a lender “Powered by Secure Trust Bank,” it can be safely assumed that their financial products, whether for dealer stock funding or consumer vehicle finance, involve interest (riba). Riba is explicitly prohibited in the Quran and Sunnah, making any transaction involving it impermissible for a Muslim. This prohibition is not merely a preference but a foundational principle of Islamic finance, aiming to foster economic justice and prevent exploitation. For a Muslim, engaging with such a service, even indirectly through a dealership, would be a direct violation of Islamic financial ethics. The consequences of engaging in riba are severe in Islamic teachings, making it a matter of utmost importance to avoid. Dolphinparkandride.co.uk Review
V12vf.co.uk Cons: The Impermissible Nature
When reviewing V12vf.co.uk, particularly through the lens of Islamic ethics, the focus shifts predominantly to its inherent cons. Unlike a service that might have minor drawbacks or areas for improvement, the fundamental nature of V12vf.co.uk’s offering—conventional vehicle finance—renders it unsuitable and impermissible for Muslims. This is not about user interface or customer service; it’s about the core business model.
The Problem of Riba (Interest)
The most significant and undeniable con of V12vf.co.uk is its probable reliance on riba, or interest. As a conventional finance provider powered by a mainstream bank, it is practically certain that their lending products charge interest. In Islam, riba is strictly forbidden. This prohibition is central to Islamic economic principles, designed to ensure fairness, discourage exploitation, and promote real economic activity based on tangible assets and shared risk, rather than speculative gains from money itself.
Why Riba is Forbidden:
- Injustice: Riba is seen as a form of injustice, where wealth is accumulated without genuine effort or risk-sharing, often burdening borrowers.
- Economic Instability: Many Islamic scholars argue that interest-based systems contribute to economic inequality and instability, including financial crises.
- Ethical Foundation: Islamic finance seeks to build a moral economy where transactions are based on equity, transparency, and social responsibility. Riba undermines these foundations.
Lack of Sharia Compliance
V12vf.co.uk makes no mention of Sharia-compliant products or services. This is a critical omission for any Muslim consumer or business. A truly ethical financial provider, from an Islamic standpoint, would explicitly offer alternatives like Murabaha (cost-plus sale), Ijarah (leasing with an option to purchase), or Musharakah Mutanaqisah (diminishing partnership), all of which are structured to avoid interest. The absence of any such offerings means that their entire product suite is likely off-limits for a Muslim seeking to adhere to their faith.
Key Missing Elements for Sharia Compliance: Jct600.co.uk Review
- Asset-Backed Transactions: Instead of lending money, Islamic finance involves selling or leasing a tangible asset.
- Risk Sharing: Both parties in an Islamic financial contract should share in the risk and reward of an enterprise.
- Transparency: All terms, costs, and profit margins must be clearly disclosed upfront.
- Ethical Screening: Funds should not be invested in or derived from activities considered haram (forbidden), such as alcohol, gambling, or pornography.
Potential for Debt Accumulation
While debt in itself is not forbidden in Islam, accumulating excessive debt, especially interest-bearing debt, is highly discouraged. V12vf.co.uk’s model, by providing conventional finance, opens the door to individuals and businesses taking on interest-based loans. This can lead to financial strain, continuous repayments, and a perpetual cycle of debt, which goes against the Islamic emphasis on financial prudence and self-sufficiency.
Impact of Interest-Bearing Debt:
- Increased Burden: The interest component significantly increases the total cost of a vehicle, making it more expensive than a cash purchase or Sharia-compliant alternative.
- Stress and Anxiety: Debt, especially when interest accrues, can be a major source of stress and anxiety for individuals.
- Hindrance to Savings: Funds that could be saved or invested ethically are diverted to pay off interest, hindering long-term financial growth.
How to Cancel V12vf.co.uk Related Obligations
Since V12vf.co.uk is a finance provider, the term “cancellation” doesn’t typically apply to a free trial or subscription in the conventional sense. Instead, it would refer to managing or terminating a finance agreement, such as a loan or lease. For a Muslim, the primary concern would be to minimise or extricate oneself from any existing interest-based contracts. If you find yourself in a financial agreement with V12 Vehicle Finance, understanding the proper channels for managing or concluding it is crucial.
Reviewing Your Finance Agreement
The first step in any situation involving a finance product is to meticulously review the specific agreement you signed. Whether it’s a personal contract purchase (PCP), a hire purchase (HP) agreement, or a business loan for vehicle stock, the terms and conditions will outline your obligations and options for early settlement or termination. This document is the definitive guide to your contractual relationship with V12 Vehicle Finance.
Key elements to look for in your agreement: Hihi.co.uk Review
- Early Settlement Clause: This details how you can pay off the finance early, including any penalties or charges for doing so.
- Voluntary Termination (VT) Rights: For consumer credit agreements like HP or PCP, you typically have a legal right under the Consumer Credit Act 1974 to voluntarily terminate the agreement once you’ve paid 50% of the total amount payable.
- Notice Periods: Some agreements might require a specific notice period if you intend to make changes or terminate.
- Fees and Charges: Be aware of any administration fees, late payment charges, or early exit penalties.
Contacting V12 Vehicle Finance Directly
While V12 Vehicle Finance states they don’t arrange finance directly with customers, they are the lender, and you, as the customer, have a direct contractual relationship with them once the finance is approved. Therefore, the primary channel for any queries regarding your account or agreement management is through their customer service.
Steps to Contact:
- Locate Customer Zone: The V12vf.co.uk website has a “Customer Zone” link (v12vf.co.uk/customer). This section is designed for existing customers to manage their accounts and make payments.
- Find Contact Information: Within the Customer Zone, look for clear contact details such as phone numbers, email addresses, or online enquiry forms.
- Prepare Your Information: Before contacting them, have your account number, personal details, and the specifics of your query ready to ensure a smooth interaction.
- Clearly State Your Intent: Whether you’re seeking an early settlement figure, discussing payment difficulties, or exploring termination options, clearly articulate your purpose.
Exploring Early Settlement or Voluntary Termination
For a Muslim, the goal should be to settle any interest-bearing debt as quickly and efficiently as possible, if financially feasible.
Early Settlement:
- Request a Settlement Figure: Contact V12 Vehicle Finance and request a full settlement figure for your agreement. This figure will include the outstanding principal balance and any applicable charges.
- Consider Financial Implications: Weigh the cost of early settlement against your financial capacity. Sometimes, the penalties for early settlement might be substantial, but for a Muslim, the spiritual benefit of ridding oneself of riba might outweigh the financial cost.
- Sources for Settlement: If you have savings, consider using them. If not, explore a Sharia-compliant loan from family, friends, or an ethical Islamic cooperative, ensuring no interest is involved in this new arrangement.
Voluntary Termination (for eligible agreements): Personaliseonline.co.uk Review
- Check 50% Rule: Ensure you have paid at least 50% of the total amount payable on your HP or PCP agreement. This includes your deposit, monthly payments, and any optional final payments.
- Notify in Writing: Send a clear written notice to V12 Vehicle Finance (or the dealership, if they are the direct point of contact for VT) stating your intention to voluntarily terminate the agreement. Keep a copy for your records.
- Vehicle Condition: Be aware that the vehicle must be in reasonable condition, accounting for fair wear and tear. Any damage beyond this could result in charges.
- Handover: Arrange for the return of the vehicle as per their instructions.
V12vf.co.uk Pricing: The Hidden Cost of Riba
V12vf.co.uk does not display specific pricing plans on its public-facing homepage. This is standard for a finance provider, as pricing (interest rates, fees, loan terms) is highly dependent on individual circumstances, creditworthiness, the specific vehicle, and the type of finance product. However, it is crucial to understand that any “pricing” associated with V12vf.co.uk’s products will almost certainly include an interest rate. This interest is the fundamental cost of borrowing money, and for a Muslim, this represents a forbidden cost due to the prohibition of riba.
The Components of Conventional Finance Pricing
When you take out conventional vehicle finance, the total cost you pay is comprised of several elements. For V12vf.co.uk, these will be determined during the application process through a dealership or broker.
Typical Pricing Components:
- Principal Amount: The actual amount of money borrowed to purchase the vehicle.
- Interest Rate (APR): This is the annual percentage rate, which represents the yearly cost of the loan, including interest and some fees. This is the riba element.
- Fees:
- Arrangement/Documentation Fees: Charges for setting up the finance agreement.
- Option to Purchase Fee: Common in HP or PCP, a small fee paid at the end of the term to formally transfer ownership.
- Late Payment Charges: Penalties for missing or delaying payments.
- Early Settlement Fees: Sometimes, a fee is charged if you pay off the loan before the agreed term.
- Term of the Loan: The duration over which you repay the finance (e.g., 24, 36, 48, 60 months). A longer term generally means lower monthly payments but higher total interest paid.
- Balloon Payment (PCP): In Personal Contract Purchase agreements, a significant final payment at the end of the term if you wish to own the car. This payment is effectively a deferred portion of the principal.
The Ethical ‘Price’ of Riba
For a Muslim, the monetary cost of a V12 Vehicle Finance product is secondary to its ethical cost. The very act of engaging in an interest-based transaction carries a spiritual burden. Islamic teachings strongly condemn riba, viewing it as a corrosive element that undermines fairness and blessings in wealth.
The Islamic perspective on “pricing” involving Riba: Boinclo.co.uk Review
- Spiritual Disapproval: Regardless of how low the interest rate might seem, the transaction is considered impermissible.
- Loss of Barakah (Blessing): Wealth acquired or transacted through riba is believed to be devoid of blessings.
- Negative Impact on Society: The system of interest is seen as contributing to social inequalities and injustices, benefiting the wealthy at the expense of the needy.
Therefore, for a Muslim, the “price” of V12vf.co.uk’s offerings is too high, not just in financial terms but in spiritual and ethical terms. The focus should always be on acquiring assets through permissible means, even if it requires more effort, patience, or a different approach.
V12vf.co.uk vs. Ethical Islamic Finance Providers
When evaluating V12vf.co.uk against ethical Islamic finance providers, it’s not a matter of which offers a “better deal” in conventional terms, but rather a fundamental divergence in principles. V12vf.co.uk operates within the framework of conventional interest-based finance, while Islamic finance providers adhere strictly to Sharia principles, avoiding riba (interest) and other prohibited elements.
V12vf.co.uk: Conventional Finance Model
- Core Principle: Lending money at an interest rate. The customer borrows a sum and repays it with an additional charge (interest) over time.
- Product Examples: Hire Purchase (HP), Personal Contract Purchase (PCP), car loans for individuals, and stock funding for dealerships. All involve an interest component.
- Risk Bearing: The lender (V12vf.co.uk) bears credit risk (the borrower defaulting), but the profit is guaranteed through interest charges regardless of the asset’s performance.
- Transparency (Conventional): Rates and fees are disclosed, but the underlying mechanism is debt-based interest.
- Ethical Stance (Islamic): Not permissible. The inclusion of riba makes it haram (forbidden) for Muslims.
Ethical Islamic Finance Providers: Sharia-Compliant Model
- Core Principle: Transactions based on tangible assets, risk-sharing, and ethical investment, avoiding interest (riba), excessive uncertainty (gharar), and gambling (maysir).
- Product Examples for Vehicles:
- Murabaha (Cost-Plus Sale): The finance provider buys the vehicle from the dealer and then sells it to the customer at an agreed-upon profit margin. The customer pays in instalments. There is no interest; the profit is part of the sale price.
- Ijarah (Leasing): The finance provider leases the vehicle to the customer for a fixed period. Ownership remains with the lessor until the end of the lease, at which point it can be transferred to the customer (Ijarah wa Iqtina – lease with purchase option). The payments are rental fees, not interest.
- Musharakah Mutanaqisah (Diminishing Partnership): The finance provider and the customer jointly own the vehicle. The customer gradually buys out the provider’s share while paying rent for the use of the provider’s portion. This is more complex but entirely Sharia-compliant.
- Risk Bearing: Risk is shared. For example, in Murabaha, the finance provider takes ownership risk of the vehicle before selling it to the customer.
- Transparency (Islamic): Explicit declaration of the profit margin or rental fees, and the avoidance of any hidden charges or interest.
- Ethical Stance (Islamic): Permissible and encouraged. Aligns with Islamic economic principles.
Key Differences and Ethical Choice
| Feature | V12vf.co.uk (Conventional) | Islamic Finance Providers (Sharia-Compliant) |
|---|---|---|
| Fundamental Principle | Lending money with interest (Riba) | Asset-backed transactions (e.g., Murabaha, Ijarah), profit-sharing |
| Ownership Transfer | Borrower takes ownership, repaying debt + interest | Provider purchases asset, then sells/leases to customer |
| Cost Structure | Interest rate + fees | Agreed profit margin or rental payments |
| Ethical Compliance | Not permissible for Muslims due to Riba | Permissible and encouraged |
| Risk | Primarily borne by lender (credit risk) and borrower (debt) | Shared between finance provider and customer, asset-backed |
| Focus | Debt accumulation | Ethical wealth circulation, real economic activity |
For a Muslim, the choice is clear. While V12vf.co.uk offers a service common in mainstream finance, its foundation on interest makes it an impermissible option. Ethical Islamic finance providers, though potentially less numerous or widely advertised, offer genuinely Sharia-compliant alternatives that align with faith-based principles of economic justice and permissible dealings. It is always incumbent upon the Muslim individual to seek out and utilise these ethical alternatives, prioritising spiritual integrity over mere convenience.
FAQ
What is V12vf.co.uk?
V12vf.co.uk is a vehicle finance provider based in the UK, offering finance solutions for both used car dealers (for stock funding) and individual customers (for vehicle purchases) through their network of dealerships and brokers.
Is V12vf.co.uk a direct lender?
Yes, V12vf.co.uk states on its website that it is a lender and not a broker, meaning they are the direct provider of the finance. However, they do not arrange finance directly with customers; transactions are facilitated through selected car dealerships and brokers. Rosalique.co.uk Review
Is V12vf.co.uk associated with a bank?
Yes, V12vf.co.uk is “Powered by Secure Trust Bank,” indicating a strong affiliation with a prominent mainstream UK financial institution.
Does V12vf.co.uk offer Sharia-compliant finance?
Based on the information available on their homepage and their association with a conventional bank, V12vf.co.uk does not appear to offer Sharia-compliant finance products. Their services are based on conventional lending principles, which typically involve interest (riba).
What types of finance does V12vf.co.uk provide?
V12vf.co.uk provides funding for car dealers’ used vehicle purchases (stock funding) and offers vehicle consumer finance, which includes various forms of car loans or hire purchase agreements for customers.
How do I apply for finance through V12vf.co.uk?
You cannot apply directly through the V12vf.co.uk website. To apply for their consumer finance, you would typically do so through a car dealership or a finance broker that partners with V12 Vehicle Finance.
What is the “Dealer Zone” on V12vf.co.uk?
The “Dealer Zone” on V12vf.co.uk is a dedicated section for used car dealers to explore their finance products, such as stock funding, and manage their existing accounts with V12 Vehicle Finance. Decomatters.co.uk Review
What is the “Customer Zone” on V12vf.co.uk?
The “Customer Zone” on V12vf.co.uk is for existing customers to find more information about their finance products, manage their V12 Vehicle Finance account, and make payments.
How do I contact V12vf.co.uk customer service?
You can typically find contact information for V12vf.co.uk customer service within the “Customer Zone” section of their website, which would likely include phone numbers or email addresses.
Can I settle my V12vf.co.uk finance early?
Yes, most conventional finance agreements allow for early settlement. You would need to contact V12 Vehicle Finance directly to request a settlement figure and understand any associated terms or fees.
What is the ethical concern for Muslims with V12vf.co.uk?
The primary ethical concern for Muslims with V12vf.co.uk is that their finance products likely involve interest (riba), which is strictly prohibited in Islamic teachings due to its unjust nature and potential for exploitation.
Are there alternatives to V12vf.co.uk for car finance that are Sharia-compliant?
Yes, there are Sharia-compliant alternatives available in the UK, such as Islamic finance providers who offer products like Murabaha (cost-plus sale) or Ijarah (leasing) for vehicle acquisition, structured to avoid interest. Gardensleepers.co.uk Review
What is Murabaha in Islamic finance?
Murabaha is an Islamic finance concept where a bank or financial institution purchases an asset (like a car) on behalf of a customer and then sells it to the customer at a pre-agreed profit margin. The customer repays in instalments, and no interest is involved.
What is Ijarah in Islamic finance?
Ijarah is an Islamic finance concept similar to leasing. The financial institution leases an asset (like a car) to a customer for a specified period, with ownership often transferring to the customer at the end of the lease term (Ijarah wa Iqtina), without charging interest.
Is it permissible to use V12vf.co.uk if I am a Muslim?
No, from an Islamic perspective, it is generally not permissible to use V12vf.co.uk for vehicle finance due to its likely reliance on interest-based lending, which is prohibited (haram) in Islam.
What should I do if I already have a finance agreement with V12vf.co.uk as a Muslim?
If you already have an interest-based finance agreement, it is advisable to seek to settle the debt as soon as financially feasible. You can contact V12vf.co.uk to request an early settlement figure and explore options to pay it off, ideally with non-interest-based funds.
Does V12vf.co.uk offer business finance for dealers?
Yes, V12vf.co.uk offers “stock funding” to car dealers, which is a form of business finance designed to help them purchase used vehicles for their forecourts. Studiodetailing.co.uk Review
How does V12vf.co.uk’s model differ from a broker?
V12vf.co.uk is a lender, meaning they provide the actual funds themselves. A broker, by contrast, acts as an intermediary, connecting customers with various lenders but not providing the finance directly.
What is the average APR for V12vf.co.uk products?
V12vf.co.uk does not publicise average APRs on its homepage. The actual APR would depend on the specific finance product, the customer’s credit score, the loan term, and other factors, and would be disclosed during the application process through a dealership.
How important is it for Muslims to avoid interest-based finance?
It is of paramount importance for Muslims to avoid interest-based finance. The prohibition of riba is a fundamental principle in Islam, and adherence to it is considered crucial for spiritual well-being and to ensure that financial dealings are just and ethical.
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