There is no harm in installment sales
Machine translationRead the Arabic original
Question: A man bought a Jeep from another man, and its value was forty thousand. He said, "I will sell it to you for seventy thousand in installments." Is that permissible?
Answer: There is no harm in that. The owners of Barirah (may Allah be pleased with her) sold her to her; they sold her in installments. Each year it was an uqiyah, which is forty dirhams, in nine installments, during the time of the Prophet (peace and blessings be upon him), and the Prophet (peace and blessings be upon him) did not disapprove of it.
So, if the installment is known in quantity, description, and term, there is nothing wrong with it; because of the hadith mentioned, and the generality of the evidence, such as His saying, the Exalted: [al-Baqarah:275].
So if you buy a car for forty thousand, or thirty thousand, or less or more, for a known term; five thousand every year, or eight thousand every year, or one thousand every month, there is nothing wrong with that.
Answer: There is no harm in that. The owners of Barirah (may Allah be pleased with her) sold her to her; they sold her in installments. Each year it was an uqiyah, which is forty dirhams, in nine installments, during the time of the Prophet (peace and blessings be upon him), and the Prophet (peace and blessings be upon him) did not disapprove of it.
So, if the installment is known in quantity, description, and term, there is nothing wrong with it; because of the hadith mentioned, and the generality of the evidence, such as His saying, the Exalted:
But Allah has permitted trade and has forbidden interest
وَأَحَلَّ اللّهُ الْبَيْعَ وَحَرَّمَ الرِّبَاSo if you buy a car for forty thousand, or thirty thousand, or less or more, for a known term; five thousand every year, or eight thousand every year, or one thousand every month, there is nothing wrong with that.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.