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The question

Is it permissible to purchase a car in installments from a car company owned by the bank that will provide the financing?

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

Purchasing a car through a bank that does not own it beforehand, nor will own it after your request, is considered a loan from the bank for the car's price, which you repay in installments with an increment over its original price. This is prohibited interest (riba) and it is impermissible to proceed with it.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
114520
Imported
Translation status
Source text, unreviewed
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