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The question

Is it permissible or forbidden for cars to be sold in installments in cooperation with Islamic and usurious banks, where the price of the car is taken from the bank at its cash value without interest, and the customer pays in installments with interest to the bank?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

If the bank genuinely buys the car from you, then sells it to the person who chose it, this is permissible, even if it sells it for more than the bank bought it from you on credit. However, if the person is the one buying the car and the bank pays you the price then charges him more for it in installments, this is usury and is not permissible.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Source platform
Ftawy
Original fatwa ID
70834
Imported
Translation status
Source text, unreviewed
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Read the full answer on Ftawy