Ruling on Purchasing from Installment Companies
Machine translationRead the Arabic original
Question: An installment company requests a percentage of the car's price, ranging between 6 and 8%, and takes the buyer's data and the specifications of the car he wants. Then it purchases the car and registers it in the customer's name after completing its procedures. What is the ruling?
Answer: There is no harm in that if the item is owned by the company and in its possession, so there is no objection to its selling it for a specific price; part of it in cash, and part deferred, or all of it deferred to known terms; few or many.
And it must be after it owns the car. There is no objection to the interested party describing the car he wants or the land he wants, then the company buys it, owns it, and takes possession of it, then sells it to him or to someone else afterwards. The interested party is free from that until the sale is completed after the purchase.
Answer: There is no harm in that if the item is owned by the company and in its possession, so there is no objection to its selling it for a specific price; part of it in cash, and part deferred, or all of it deferred to known terms; few or many.
And it must be after it owns the car. There is no objection to the interested party describing the car he wants or the land he wants, then the company buys it, owns it, and takes possession of it, then sells it to him or to someone else afterwards. The interested party is free from that until the sale is completed after the purchase.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.