The ruling on borrowing a car for forty thousand over one year and then selling it for sixty thousand over two years.
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The questioner : One of the young men advised me to ask you the question: What is the view of the Shari'ah, in your opinion, regarding a person who borrows, for example, to buy a car for forty thousand for a period of one year, and then sells it on installment for sixty thousand for a period of two years? May Allah reward you with good.
The Shaykh : There is nothing wrong with this, provided that he has taken possession of the car in the first contract and brought it to his home, and then sells it. But as you know, or as you will come to know, the Shaykh al-Islam Ibn Taymiyyah (may Allah have mercy on him) said that anyone who buys a commodity for a deferred price with the intention of the money rather than the car has fallen into riba (usury or interest), and that this is of the 'inah (a buy-back sale used to disguise a loan) from which the Prophet (peace and blessings be upon him and his family) warned. The left side, yes. On the left side, you had a question, or...
The Shaykh : There is nothing wrong with this, provided that he has taken possession of the car in the first contract and brought it to his home, and then sells it. But as you know, or as you will come to know, the Shaykh al-Islam Ibn Taymiyyah (may Allah have mercy on him) said that anyone who buys a commodity for a deferred price with the intention of the money rather than the car has fallen into riba (usury or interest), and that this is of the 'inah (a buy-back sale used to disguise a loan) from which the Prophet (peace and blessings be upon him and his family) warned. The left side, yes. On the left side, you had a question, or...