SP ZeroFinance Sharia-Compliant Auto Financing
Halal Auto Financing in Florida
SP ZeroFinance offers Sharia-aligned auto financing in Florida through SP Auto Sales Inc., using Murabaha, Path to Purchase, and Easy Lease pathways. Programs are Raqaba-certified and marketed as asset-based with upfront pricing rather than compounding interest. Early access is limited to Florida residents and Compassionate Capital clients with at least $1,000 invested.
SP ZeroFinance is one of the few U.S. providers building purchase-path halal auto finance rather than only converting an existing loan. The honest constraints are geographic and operational: Florida only at launch, Compassionate Capital account required for early access, and dealer-not-lender disclosures on the auto hub. Raqaba certificates are the strongest public governance signal; treat homepage card-product testimonials as forward-looking until those products launch.
Pros
- Purchase-path halal auto financing with Murabaha and Ijarah-style programs, not only a loan conversion
- Raqaba third-party Sharia certification documents linked from the auto hub
- Transparent program split: Murabaha (fixed total price) vs Path to Purchase (fixed payments toward $1 buyout)
- Muslim-led operator with Lake Mary, FL headquarters and community-education positioning
- Cosigners allowed; soft-pull pre-qualification per intake
Cons
- Available to Florida residents only at launch (other states listed as planned, not live)
- Early access gated on opening a Compassionate Capital account ($1,000 minimum)
- No multi-member Shariah supervisory board named on the public site - governance is Raqaba certification plus a named advisor in intake
- Homepage still markets future products (e.g. secured card testimonials) beyond the live auto program
- Minimum FICO and maximum financing amounts not published on the site at time of crawl
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Product Details
Structure
ijara-murabaha
Vehicle Types
New, Used, Electric
Down Payment
0% (Easy Lease); 10% (Path to Purchase and Murabaha, per intake programs)
Terms
60 months, 72 months
SP ZeroFinance in Florida
SP ZeroFinance offers halal auto financing in Florida using a ijara-murabaha structure. Unlike conventional auto loans that charge interest, this structure avoids riba entirely. With Florida's cost of living (median home price: ~$412,000), reliable halal auto financing can be an important part of a family's financial plan. Florida is home to an estimated ~127K Muslims (0.6% of the population) (World Population Review, 2020 estimates). SP ZeroFinance serves 1 state, including Florida.
Shariah Compliance & Oversight
Auto programs are certified through Raqaba; certificates are linked from spzerofinance.com/auto. Intake also names Dr. Nizar Mashal as an advisor. SP ZeroFinance does not publish a standing multi-member Shariah supervisory board on its site.
Third-party certification: Raqaba (certificates on auto hub). Named advisor in intake: Dr. Nizar Mashal. No multi-member Shariah supervisory board published.
2026-10-22
State Availability
Available in 1 state
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Compare With Other Options in Florida
2 other auto financing products available to Florida residents
RF (Riba Free) financing, LARIBA discipline · Nationwide
Nationwide
Frequently Asked Questions
What is SP ZeroFinance Sharia-Compliant Auto Financing?
What Shariah oversight does SP ZeroFinance Sharia-Compliant Auto Financing have?
Is SP ZeroFinance Sharia-Compliant Auto Financing available in Florida?
What Shariah oversight does SP ZeroFinance have?
What financing structure does SP ZeroFinance Sharia-Compliant Auto Financing use?
How do I apply for SP ZeroFinance Sharia-Compliant Auto Financing in Florida?
Does Florida have state income tax on halal investments?
Is Florida a common law or community property state?
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Co-Founder & CEO, HalalWallet
How to use this comparison: Scholars rule; we organize the evidence. HalalWallet is an independent educational comparison platform - by design, we do not issue fatwas or provide financial, legal, or tax advice. We do the research homework so your final checks are quick and personal. Where our role ends and who takes over.
Product structures and Shariah oversight vary by provider, so finish with three built-in steps:
- Confirm current terms and halal compliance directly with the provider - their quote is final.
- Review the contract structure (Murabaha, Ijara, Musharakah, etc.) and any disclosed Shariah board opinions.
- Bring your shortlist to a qualified Islamic finance advisor or scholar, so the conversation is about your situation, not the basics.
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