Sale on Installment and Its Ruling
Machine translationRead the Arabic original
Question:
Now, regarding a person who buys a gem from someone, and the seller says to him: "I am selling you this gem on installment. Instead of its value of forty thousand, buy it for seventy thousand on installment." Is this permissible?
Answer:
There is no harm in installment payments. The owners of Barirah sold her to her in installments; forty dirhams each year, in nine installments, during the time of the Prophet (peace and blessings be upon him).
So, if the installment payments have known due dates, there is no harm. For example, if you buy a car worth thirty thousand, you buy it for forty or fifty thousand, paying five thousand each year, or eight thousand each year, or one thousand each month. There is nothing wrong with it if it is known.
Now, regarding a person who buys a gem from someone, and the seller says to him: "I am selling you this gem on installment. Instead of its value of forty thousand, buy it for seventy thousand on installment." Is this permissible?
Answer:
There is no harm in installment payments. The owners of Barirah sold her to her in installments; forty dirhams each year, in nine installments, during the time of the Prophet (peace and blessings be upon him).
So, if the installment payments have known due dates, there is no harm. For example, if you buy a car worth thirty thousand, you buy it for forty or fifty thousand, paying five thousand each year, or eight thousand each year, or one thousand each month. There is nothing wrong with it if it is known.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.