The ruling on buying a car on installment from a bank
Machine translationRead the Arabic original
Question:
This questioner says: I am a young man ignorant of the rulings on sales, and I want to buy a car from Al-Rajhi Bank on installment. What is the ruling on that?
Answer:
Yes, if Al-Rajhi has cars, you buy a car from them on installment. But if they do not have a car, and you go to the showrooms or go to the companies, then it is not permissible, because this is selling what one does not own. But if they have a car in their possession, you buy it from them for a deferred price in installments, then you take delivery of the car and sell it to someone else, not at Al-Rajhi’s location, then there is no harm in that. Yes.
The presenter:
May Allah reward you
This questioner says: I am a young man ignorant of the rulings on sales, and I want to buy a car from Al-Rajhi Bank on installment. What is the ruling on that?
Answer:
Yes, if Al-Rajhi has cars, you buy a car from them on installment. But if they do not have a car, and you go to the showrooms or go to the companies, then it is not permissible, because this is selling what one does not own. But if they have a car in their possession, you buy it from them for a deferred price in installments, then you take delivery of the car and sell it to someone else, not at Al-Rajhi’s location, then there is no harm in that. Yes.
The presenter:
May Allah reward you
Source
شرح فضل الإسلام [ صالح الفوزان ]، سؤال حذيفة للنبي - صلى الله عليه وسلم - عن الشر — islamhouse.com (1:12:14)
The Arabic text is a machine transcription of the audio recording.