Ruling on buying an item for cash and selling it on installments
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Ruling on buying an item for cash and selling it on installments
What is the ruling on buying a car for cash with the intention of selling it on installments at an increased price?
If the person who bought it for cash did not buy it except for the specific person who came to ask for installments, then this is forbidden.For example: I came to you and said: I want that specific car in that specific showroom, and I have no money with me.And you said: I will buy it for cash and pay the showroom, and sell it to you on installments with an increase. This is forbidden.Because it is a clear ruse instead of saying: Take its value in cash as a loan and a debt, and buy with it, but pay me more. I went and bought it without intending to, for I would not have bought it nor thought of it if you had not come to me. This is not permissible.
However, if the car was with a person in his showroom, or if he had bought it, for example,And you said: and I said: Oh so-and-so! I want to buy the car from you, and it is worth (50) in cash,So I said: I want to buy it from you for (60) deferred for one year,This is permissible and there is nothing wrong with it, by the saying of Allah the Exalted: [al-Baqarah:282] .
Praise be to Allah, Lord of the worlds, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and all his Companions.
What is the ruling on buying a car for cash with the intention of selling it on installments at an increased price?
If the person who bought it for cash did not buy it except for the specific person who came to ask for installments, then this is forbidden.For example: I came to you and said: I want that specific car in that specific showroom, and I have no money with me.And you said: I will buy it for cash and pay the showroom, and sell it to you on installments with an increase. This is forbidden.Because it is a clear ruse instead of saying: Take its value in cash as a loan and a debt, and buy with it, but pay me more. I went and bought it without intending to, for I would not have bought it nor thought of it if you had not come to me. This is not permissible.
However, if the car was with a person in his showroom, or if he had bought it, for example,And you said: and I said: Oh so-and-so! I want to buy the car from you, and it is worth (50) in cash,So I said: I want to buy it from you for (60) deferred for one year,This is permissible and there is nothing wrong with it, by the saying of Allah the Exalted:
O you who have believed, when you contract a debt for a specified term, write it down.
يَا أَيُّهَا الَّذِينَ آمَنُوا إِذَا تَدَايَنْتُمْ بِدَيْنٍ إِلَى أَجَلٍ مُسَمّىً فَاكْتُبُوهُPraise be to Allah, Lord of the worlds, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and all his Companions.