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Purchasing an item with a higher credit price

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: Can I purchase a motorcycle on instalments? The original price is 44 500 and on instalments I have to pay 63 000 in 1.5 years on equal instalments of 3000 a month. Is it right or is it sood?

Bismillaah

A: If the agreement is made on paying in instalments and the total amount is fixed then it 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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