Selling a car for a deferred price, and then the seller buying it back after a period
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The second question of Fatwa No. ( 20626 )
Q2: A man bought a car for a large sum in monthly installments and took ownership of the car. After a period of time, he sold it to his original owner for a value less than the price he had previously bought it from him for, but this value was in cash. Is this
sale and purchase permissible or not?
A2: Whoever sells a commodity for a deferred price, whether on a single term or in installments, it is not permissible for him to buy that commodity for less than the price he sold it for; because this is the sale of 'inah, which is prohibited, and it is a stratagem to reach riba. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q2: A man bought a car for a large sum in monthly installments and took ownership of the car. After a period of time, he sold it to his original owner for a value less than the price he had previously bought it from him for, but this value was in cash. Is this
sale and purchase permissible or not?
A2: Whoever sells a commodity for a deferred price, whether on a single term or in installments, it is not permissible for him to buy that commodity for less than the price he sold it for; because this is the sale of 'inah, which is prohibited, and it is a stratagem to reach riba. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.