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Purchasing on credit

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I earn a low salary and cannot afford to purchase transport cash. The loan terms offered by the scooter company work out to r400 per month which I can afford. I need a transport daily to get to my job as well as to the masjid. Will it be permissible for me to purchase the scooter which is the cheapest I can find on credit terms due to my circumstance? If I don’t purchase a scooter which is the cheapest mode of transport except for a bicycle, I will not be able to get to work daily. I have a family to support and if I save up for the scooter to buy it cash, it will take me almost 2 years. I don’t believe in interest but circumstances are really hard, what do I do?

Bismillaah

A: If you stipulate the price of the scooter from the very beginning and you make it known that this is going to be the price and it will not be subject to any type of fluctuation then this is permissible.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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