What is the ruling on buying a car on installments with an increase, and then selling it to the same person for a lower price immediately?
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The Shaykh : if
The questioner : Yes, O Shaykh
The Shaykh : If what?
The questioner : For example, if I spoke to a man and said to him: Buy a car for a certain amount, and I will take it from you in installments?
The Shaykh : For more?
The questioner : For more or the same amount?
The Shaykh : Not the same amount, no.
The questioner : And if it is for more?
The Shaykh : This is not permissible. That is, a person who needs a car says to someone: I don't have money, buy me the car and sell it to me with an increase in installments. This is forbidden because it is a clear ruse. Instead of saying to the man: Lend me its value and I will pay you back in installments with more, he resorts to a ruse and says: Buy it for me, then sell it to me. This merchant who wanted to lend him the money would not have bought the car if it were not for this, is that not so?
The questioner : If he does not own the item, meaning he does not trade in it.
The Shaykh : That is more severe. But if the item is in his possession and a person comes and says: By Allah, I want you to sell me this car in installments, there is nothing wrong with that. Yes, on the right.
The questioner : Yes, O Shaykh
The Shaykh : If what?
The questioner : For example, if I spoke to a man and said to him: Buy a car for a certain amount, and I will take it from you in installments?
The Shaykh : For more?
The questioner : For more or the same amount?
The Shaykh : Not the same amount, no.
The questioner : And if it is for more?
The Shaykh : This is not permissible. That is, a person who needs a car says to someone: I don't have money, buy me the car and sell it to me with an increase in installments. This is forbidden because it is a clear ruse. Instead of saying to the man: Lend me its value and I will pay you back in installments with more, he resorts to a ruse and says: Buy it for me, then sell it to me. This merchant who wanted to lend him the money would not have bought the car if it were not for this, is that not so?
The questioner : If he does not own the item, meaning he does not trade in it.
The Shaykh : That is more severe. But if the item is in his possession and a person comes and says: By Allah, I want you to sell me this car in installments, there is nothing wrong with that. Yes, on the right.