UIF Auto Financing
Halal Auto Financing in Texas
Full halal auto financing for new and used vehicle purchases using Musharakah (diminishing co-ownership) structure.
UIF provides halal auto financing using a hybrid Partnership–Installment Sale structure: a Joint Purchase Agreement appoints the buyer as UIF's agent, then converts into an installment sale where UIF sells the vehicle to the customer. Eligible vehicle types include new, used. Best suited for: Midwest buyers (MI, IL, OH, TX only).
Pros
- One of the very few dedicated halal auto financing programs in the U.S. (available in MI, IL, OH, and TX)
- The only faith-based vehicle finance program built on a hybrid Partnership–Installment Sale structure (per UIF) — a Joint Purchase Agreement converting into an installment sale
- High HalalWallet rating of 4.5/5
- Flat $15 late fee (not a percentage) with all late fees donated to charity per the Sharia board
Cons
- Personal-use cars & SUVs only — no commercial vehicles, and no refinancing of existing vehicle obligations yet
- Strict delinquency timeline: credit reporting at 30 days past due, collections and possible repossession after 60 days (15-day redemption window after repossession, varies by state)
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Product Details
Structure
musharakah-murabaha
Vehicle Types
New, Used
Down Payment
5% or 10%
Terms
24 months, 36 months, 48 months, 60 months, 72 months
Min Credit Score
620+
Max Amount
$150,000
UIF in Texas
UIF offers halal auto financing in Texas using a musharakah-murabaha structure. Unlike conventional auto loans that charge interest, this structure avoids riba entirely. With Texas's cost of living (median home price: ~$338,000), reliable halal auto financing can be an important part of a family's financial plan. Texas is home to an estimated ~313K Muslims (1.1% of the population) (World Population Review, 2020 estimates). UIF serves 4 states, including Texas.
Shariah Compliance & Oversight
Operates as a dedicated Islamic finance provider whose activities are overseen by a formal, independent Sharia Supervisory Board and aligned with recognized Islamic finance standards.
Sharia Supervisory Board chaired by Sheikh Nizam Yaquby. Board reviews/approves UIF programs; fatwas + audits published.
2026-07-10
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Visit UIF's website to get current terms, check eligibility for Texas, and get started today.
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Compare With Other Options in Texas
2 other auto financing products available to Texas residents
Qard Hasan · 1 states
Frequently Asked Questions
What is UIF Auto Financing?
What Shariah oversight does UIF Auto Financing have?
Is UIF Auto Financing available in Texas?
What Shariah oversight does UIF have?
What financing structure does UIF Auto Financing use?
How do I apply for UIF Auto Financing in Texas?
Does Texas have state income tax on halal investments?
Is Texas a community property state for Islamic estate planning?
Halal Finance Score
Interest-bearing debt is a common gap. See where you stand across all 7 categories.
Average score: 63/100
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Explore All Auto Financing in Texas
Compare every auto financing option side-by-side with filters, ratings, and Shariah oversight details.
Reviewed monthly and updated when product availability or terms change.
Co-Founder & CEO, HalalWallet
How to use this comparison: HalalWallet is an independent educational comparison platform — by design, we do not provide financial, legal, or religious advice. We do the research homework so your final checks are quick and personal.
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.