Ruling on selling on credit with an increase in the price

This is a message we received from the sender, Abdullah Ahmad Atiyah al-Zahrani, from Tihama. He says: I am inquiring about selling a commodity for a price higher than the cash price, with a deferral of six months or more. For example, if I buy a car worth fifteen thousand riyals in cash and sell it for twenty-three thousand riyals on credit, is this sale permissible?
Answer: There is no harm in this, and praise be to Allah. It is permissible to sell a commodity worth fifteen for twenty... or a car or other item for twenty-three. There is nothing wrong with this, and likewise selling on installments; that is, selling it in installments... such an amount each month... such an amount each year. All of this is permissible, and this is from the mercy of Allah; because people are not all in the same situation. Some have cash, and some are unable to pay in cash except on credit. It is authentically reported from the Messenger of Allah (peace and blessings be upon him) that he approved the sale of Barirah, and her owners sold her for nine uqiyahs, one uqiyah each year. This is a sale on installments. So the point is that selling what is worth ten for fifteen... or what is worth twenty for twenty-five, for a known term, is not harmful; because of the buyer's need and the seller's benefit from the increase due to the deferral. There is no harm in this according to the scholars, and the texts have come with this. Yes.
The presenter: May Allah reward you with good. And may Allah bless you.