Answer
In the Name of Allah, Most Gracious, Most Merciful.
All praise and thanks are due to Allah, and peace and blessings be upon His Messenger.
In this fatwa:
It is permissible to buy an extended car warranty. It is just like taking out a new insurance policy.
Responding to your question, Prof. Dr. Monzer Kahf, Professor of Islamic Finance & Economics at the Faculty of Economics and Management, Istanbul Sabahattin Zaim University, Turkey, states:
Yes, it is permissible. It is just like taking out a new insurance policy. An extended car warranty provides additional coverage against potential repair costs for a specified period. However, the permissibility may depend on the terms and conditions of the warranty and whether it complies with Islamic principles.
👉 Read also:
- Can Muslims Profit From Car Insurance Claims?
Is Working as an Insurance Underwriter Halal?
Is Car Insurance Haram? - It Is Halal to Invest in Insurance Companies?
Is Working for Insurance Companies Halal? - How Does Shari`ah View Insurance?
Almighty Allah knows best.
