Ruling on buying a car for more than its value
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I found one of my colleagues who has a car, and the car is worth about (30) thousand in its current condition, so I accepted it in its present condition and took delivery of it for (65) thousand, on the condition that I pay nothing upfront, but rather I pay the amount in monthly installments,So some said: This is riba, so is this riba? Knowing that I received the car in its condition and drove it away?The Shaykh: This is not riba; because you bought the car, and you did not buy dirhams with dirhams.
The questioner: I do not know how much he bought it for, but its current value when I took it was (30) thousand, and I accepted it for (65) thousand on the condition that I pay each installment monthly?The Shaykh: There is nothing wrong with this, and there is no riba in it.
The questioner: But they said: There is riba in it; because it increased for you more than its price?The Shaykh: There is no harm, this is what suits it, the important thing is that this matter is not riba at all, but a person should, if he sees his brother in need of something, not increase the price by this excessive amount; because he has now made one hundred into two hundred, is that not so, (30) he made it (65), but if you accepted and were satisfied with this thing, there is no blame on you.
The questioner: I do not know how much he bought it for, but its current value when I took it was (30) thousand, and I accepted it for (65) thousand on the condition that I pay each installment monthly?The Shaykh: There is nothing wrong with this, and there is no riba in it.
The questioner: But they said: There is riba in it; because it increased for you more than its price?The Shaykh: There is no harm, this is what suits it, the important thing is that this matter is not riba at all, but a person should, if he sees his brother in need of something, not increase the price by this excessive amount; because he has now made one hundred into two hundred, is that not so, (30) he made it (65), but if you accepted and were satisfied with this thing, there is no blame on you.