Paying off a car installment before the due date

Question:
Honorable Shaykh, may Allah grant you success. Some people who buy cars on installments, if they take a five-year installment plan, for example, and want to pay off the remaining four years after one year, they say: We will take our principal plus an additional one percent instead of the original rate, which is, for example, seven percent. What is the ruling on that?

Answer:
That is, they take the immediate payment and reduce the immediate payment for him. This is a matter of scholarly disagreement. There is disagreement among the scholars regarding the issue of reducing and accelerating. Some say it is not permissible, because this is selling money for less money, deferred money for immediate money that is less than it. Some say no, this is not a matter of sale; this is a matter of remission. This is a matter of remission, not a matter of sale. He takes immediate money and remits the deferred increase, so there is nothing wrong with that, and this is likely the correct view, if Allah wills. Yes.