Buying a car without an interest-bearing loan: a four-step method

1. Cost the real price

Add the purchase price and yearly costs: insurance, fuel, maintenance, road tax, parking. A car budget beyond reason weighs on the rest of the budget.

2. Set the goal and save

Choose a purchase budget, a date and a monthly saving. For 80,000 DH in two years, that is a little over 3,300 DH a month. Fictional figures, to adapt. Use the purchase simulator to see the effect on your other projects.

3. Compare new and used

A used car in good condition costs less and depreciates more slowly. Have the vehicle checked by a trusted mechanic, and verify the history and papers.

• New: reliability, warranty, but heavy depreciation.
• Used: lower price, checks essential.

4. Pay in a compliant way

Paying cash is simplest. If financing is needed, turn to a compliant formula such as a participatory bank's murabaha, comparing total cost, rather than an interest-bearing loan.

Frequently asked

How much of my budget should a car take?

Its total yearly costs should not unbalance your budget. If it cuts your savings and money left to live on too much, choose a more modest vehicle.

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