A question regarding installment sales.
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The questioner: We have brothers in the house ofThe Shaykh : Husayn says that regarding the "pickup truck" when they bought it, there were naturally bills of exchange owed to the company. His companions who bought it paid off about one or two bills of exchange of its value. So now they are saying that they want to take it and pay the remaining bills of exchange themselves.
The Shaykh: It is not permissible, just as if they had bought it directly from the company.
The questioner: I told them: These bills of exchange carry interest, as far as I know and to my knowledge. They said, we want to go to the market to see what its price is, and we will proceed based on that price. For example, they said its price is four thousand dinars now, and it has bills of exchange for four thousand dinars. Is it permissible for us to pay off the bills of exchange and take it... based on the same amount, without interest and without [extra].
The Shaykh : It is not permissible.
The questioner : It is not permissible!
Another questioner: By Allah, we askedThe Shaykh : the same question at that time; I said - O our Shaykh - : If they pay the company in cash, completing all the bills of exchange, for example they have three thousand in bills of exchange, and we pay them in cash, how much do you want from us? They tell you: We want two thousand and eight hundred dirhams from you, you pay... to clear the company, meaning.
Another questioner: I know if it is cash, but did we not increase in the transaction?
The Shaykh: The one who bought increased.
The questioner: The one who bought increased. I bought it at its value, meaning at its check value, as if I paid cash. Meaning, I went to a person who buys and sells cars, and I said to him: Uncle, what is the price of this pickup? He said to me - for example - : Four thousand dinars. Now, in cash, its price is four thousand dinars, and the company has four thousand dinars owed to it by the owner of the pickup. So, is it permissible for me to take it and pay the monthly bills of exchange in installments?
The Shaykh: Okay; is this speech reasonable from a commercial standpoint? That the market price is the price of the bills of exchange, is this thing reasonable?
The questioner: He still has the amount, he increased it in the company.
The Shaykh: Excuse me, I asked you a question. The picture you are now presenting, is it reasonable in terms of commercial reality? Meaning, a car is put on the market and its price is the price of the bills of exchange; knowing that the bills of exchange have the cash price added to them plus the installment price.
The questioner: Yes, but he has paid part of its value in money.
The Shaykh: No problem, my dear, whether he paid a quarter, a third, half, or three-quarters, it is not important. The important thing is that in your view, we will buy at the market price. Is this speech not reasonable? The market price will be less than the price of the bills of exchange the man has!
The questioner: No, it is not a coincidence that it is approximately the same thing.
The Shaykh: Look, now how are you... with you? You conceded a little, you said approximately! Whereas before, what was the claim? That four thousand is its price in the market, and what does he have? Four thousand. Is this thing not reasonable from a commercial standpoint!!
The Shaykh: It is not permissible, just as if they had bought it directly from the company.
The questioner: I told them: These bills of exchange carry interest, as far as I know and to my knowledge. They said, we want to go to the market to see what its price is, and we will proceed based on that price. For example, they said its price is four thousand dinars now, and it has bills of exchange for four thousand dinars. Is it permissible for us to pay off the bills of exchange and take it... based on the same amount, without interest and without [extra].
The Shaykh : It is not permissible.
The questioner : It is not permissible!
Another questioner: By Allah, we askedThe Shaykh : the same question at that time; I said - O our Shaykh - : If they pay the company in cash, completing all the bills of exchange, for example they have three thousand in bills of exchange, and we pay them in cash, how much do you want from us? They tell you: We want two thousand and eight hundred dirhams from you, you pay... to clear the company, meaning.
Another questioner: I know if it is cash, but did we not increase in the transaction?
The Shaykh: The one who bought increased.
The questioner: The one who bought increased. I bought it at its value, meaning at its check value, as if I paid cash. Meaning, I went to a person who buys and sells cars, and I said to him: Uncle, what is the price of this pickup? He said to me - for example - : Four thousand dinars. Now, in cash, its price is four thousand dinars, and the company has four thousand dinars owed to it by the owner of the pickup. So, is it permissible for me to take it and pay the monthly bills of exchange in installments?
The Shaykh: Okay; is this speech reasonable from a commercial standpoint? That the market price is the price of the bills of exchange, is this thing reasonable?
The questioner: He still has the amount, he increased it in the company.
The Shaykh: Excuse me, I asked you a question. The picture you are now presenting, is it reasonable in terms of commercial reality? Meaning, a car is put on the market and its price is the price of the bills of exchange; knowing that the bills of exchange have the cash price added to them plus the installment price.
The questioner: Yes, but he has paid part of its value in money.
The Shaykh: No problem, my dear, whether he paid a quarter, a third, half, or three-quarters, it is not important. The important thing is that in your view, we will buy at the market price. Is this speech not reasonable? The market price will be less than the price of the bills of exchange the man has!
The questioner: No, it is not a coincidence that it is approximately the same thing.
The Shaykh: Look, now how are you... with you? You conceded a little, you said approximately! Whereas before, what was the claim? That four thousand is its price in the market, and what does he have? Four thousand. Is this thing not reasonable from a commercial standpoint!!
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.